Analysis

Wynn hopes to jump-start betting with Michigan launch

WynnBET is hoping to get itself among the top-line of sports betting brands by opening in Michigan, only its third state so far.

One of the biggest names in U.S. gaming is hoping to jump-start its sports betting efforts and has got itself among the first wave of brands opening in Michigan.

WynnBET is among the names that will be debuting in Michigan tomorrow after gaining access via a deal with the Sault Ste. Marie Tribe of Chippewa Indians.

Michigan officially opens its doors to sports betting tomorrow at 12noon. It is a signal moment in the opening up of sports-betting and, when it also gets the nod, online gaming.

According to the Wedge Index of gaming friendliness, Wynn is a second tier brand and as such it adds three points to a state’s tally when it launches.

Michigan will be hugely boosted when it goes live and will rise from T14th in the table to the top five once gaming is available online.

Five, four, three, two…

Michigan finally got the go-ahead form the regulator to launch sports-betting this week. It will launch with nine brands including expected market leaders DraftKings, FanDuel, Barstool Sportsbook and BetMGM.

A further six brands are likely to get the nod early in February.

Michigan promises to be a large state when it comes to operator revenues. At around 10 million in population, it sits just above New Jersey as the 10th most populous state.

When news of the launch came through, Richard Kalm, MCCB Executive Director, said it was the beginning of a “new era”.

“Michigan residents love sports and, judging by inquiries we’ve received, eagerly anticipate using mobile devices to place bets through the commercial and tribal casinos.”

Wynn-ing

WynnBET is now live in three states – Michigan (soon), New jersey and Colorado. The company says it has market access lined up for four more – Indiana, Iowa, Nevada, and Massachusetts.

Craig Billings, President of Wynn Resorts, said Michigan was the first of “many additional states” the company hoped to enter in 2021.

“With its large and highly engaged community of sports and casino fans, we are confident that Michigan will become a meaningful market for us.”

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Scott Longley

Scott Longley has been a journalist since the early noughties covering personal finance, sport and the gambling industry. He has worked for a number of publications including Investor's Week, Bloomberg Money, Football First, EGR and GamblingCompliance.com. He now writes for online and print titles across a wide range of sectors.

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