WynnBET officially stopped taking bets in New York on July 30. Customers were greeted with a “closed operations” notice on the WynnBET platforms. ESPN BET is now finally sat on the starting blocks ready to replace it.
It’s a move that has long been expected though the abrupt date of the exact shuttering had not been widely announced. WynnBET's departure paves the way for ESPN BET to fill the sportsbook space held by the outgoing betting brand. ESPN BET operator Penn Entertainment announced it had purchased Wynn Interactive’s New York mobile sports betting license in February.
New York is not the only state in which WynnBET has ceased trading. The sportsbook operated by Wynn Resorts has also now closed in the 10 other US jurisdictions where it held gambling licenses. Wynn now only retains a digital footprint in Nevada, the location of its two flagship Vegas integrated casino and hotel properties.
WynnBET’s closure notice was accompanied by a statement to say existing customers have until 11 am ET on August 29 to withdraw any remaining funds.
That’s not long given the current summer sports betting lull meaning casual bettors may not be as active in logging into accounts right now. Plenty of New Yorkers are also elsewhere on summer vacations and will not be able to access WynnBET NY in other states or countries.
Any account holders with Wynn Rewards points gained from sports betting can still redeem them, but only at the Wynn Las Vegas and Encore at Wynn Las Vegas and Encore Boston Harbor complexes.
Consolidation in the US mobile sports betting industry is continuing at pace. WynnBET joins PointsBet in departing the field of play this year. Smaller operations like that pair have been unable to gain much traction against the dominant players, notably the near-duopoly of FanDuel and DraftKings.
WynnBET accepted a relatively low total of $233 million in bets during its two-and-a-half years in operation in New York. A revenue figure of just $11.3 million in that period was a scant return for one of the world’s best-known leisure and gaming companies.
Bettors have drifted away in ever bigger numbers as the inevitable end drew closer too. A handle of just $1.5 million in June was WynnBET’s lowest ever in New York and contrasts with a best of $12 million just nine months ago for October 2023.
Wynn’s intention to exit altogether became clear last August when it departed the mobile sports betting markets in eight other states. WynnBET remained operational in New York, seemingly to maintain brand presence ahead of the award of new downstate casino licenses. Wynn Resorts remains hopeful of securing one but presumably, the offer from Penn Entertainment made up the minds of Wynn Resorts chiefs to pull the plug once and for all.
Ever since the deal to sell to the parent company of ESPN BET was finalized, a fall launch for the sportsbook bearing the branding of one of the world’s biggest sports broadcasters has been mooted.
With fall now just a matter of weeks away, the launch of ESPN BET in the Empire State may be on track to hit that milestone. Penn Ents has previously stated it hoped its new sportsbook would be operational by the time of the new football season.
The NFL kickoff is in less than a month from now though and we only have to look to the near-six-month transition phase that saw Fanatics Sportsbook fully replace PointsBet as an indication of a precedent for how long such developments can take. That said, ESPN BET is already an established product elsewhere in the nation, currently operating in 18 states.
Also, when Fanatics went live in New York, it migrated existing PointsBet customers onto the new platform. The complete shutdown of WynnBET and closure of accounts removes one administrative hurdle from the process. Perhaps New Yorkers will yet be able to wager using ESPN BET, one of the best NFL betting sites, on the New York Jets at the San Francisco 49ers or Buffalo Bills hosting the Cardinals in the NFL’s opening week.
The transition from WynnBET to ESPN BET will undoubtedly have a profound impact on betting in New York. As ESPN BET steps into the market, bettors can expect enhanced offerings, more competitive promotions, and a broader range of betting options. This shift is poised to invigorate the industry, potentially attracting a new wave of enthusiasts and reshaping the landscape of sports wagering in the state.
With ESPN BET joining the ranks of the best New York betting sites, the stage is set for an exciting new chapter in the Empire State's betting history. Bettors should prepare for a dynamic and competitive environment that promises to elevate their overall experience.
