WynnBET Shows Growth As Its New App Hits New York

WynnBet Shows Growth As New App Hits NY
Published by NYSB Staff
Last Updated: 04. Dec 2023.

The highly rated WynnBET sportsbook will continue rolling out its updated sports betting app with a New York launch to follow hot on the heels of several other states.

The refresh comes as the luxury entertainment giant has been buoyed by impressive growth figures in the Empire State through late summer.

When Will New Yorkers Get The New WynnBET App?

Players in Massachusetts and West Virginia were the first to set eyes on WynnBet’s updated app with those in Michigan and Nevada following suit.

WynnBET customers in New York should soon be prompted to update their platforms if they haven’t already. All existing account information, balances, bonus funds, loyalty points and existing bets will be transferred automatically.

WynnBET recently made the strategic decision to exit sports betting markets in Arizona, Colorado, Indiana, Louisiana, Tennessee and Virginia. The operator pointed to high player acquisition costs as the primary reason for doing so but its New York figures are heading in the right direction towards stated profitability goals.

What’s New In WynnBET's Updated App?

In a customer update, WynnBET suggested its new, enhanced sportsbook will offer more betting markets, improved same-game parlay options, additional deposit and withdrawal methods and boosted bonus features.

WynnBET already had one of the more stylish NY betting apps so a smoother, more responsive and quicker platform can only bode well for New York sports bettors.

With the biggest sports betting market in the US already a crowded one, and soon to welcome Fanatics and potentially Bet365 and ESPN Bet, operators are moving quickly to improve their offerings while retaining existing customers and luring new ones.

How WynnBET Has Been Performing Recently In New York

WynnBET’s new betting app follows an increasingly strong showing this year by its parent company. Wynn Resorts closed out Q1 of this fiscal year with a revenue figure of $1.42 billion, up by almost 50 per cent year on year.

In August, the luxury leisure giant reported Q2 earnings above estimates. Wynn Resort’s consolidated net revenue grew further to $1.6 billion with growth driven by its hotel and hospitality arms as well as gaming.

In New York, WynnBET is also starting to show signs of a revitalization driven by its improved betting experience and NY sports betting promos that are often more generous than the competition.

After averaging a weekly betting handle of $1.78 million this fiscal year to the end of July, WynnBET reported its highest income figures for 14 weeks as August began. The brand’s average handle in the four reported weeks in August averaged $1.92 million.

That recent increase in handle was accompanied by WynnBET’s best Gross Gaming Revenue (GGR) numbers since April too at $27,608 and $266,416 for the final two weeks in August.

Also, following a fairly static market share that has been stuck stubbornly at around 0.6 per cent this year, the most recent summer figures have enabled WynnBet to grow its proportion of the New York betting market to almost 0.9 per cent.

Elsewhere, DraftKings maintained its position as the biggest sports betting site in New York last month (40%) followed by FanDuel (37%), Caesars (11%) and BetMGM (7%). 

BallyBet remains absent from the scene as it overhauls its own apps while PointsBet will exit permanently this month.

It may still be a relatively small player compared to those mentioned above, but recent signs show a promising trend for WynnBet as the sporting calendar intensifies in the fall. The brand’s refreshed strategy should maintain that upward trajectory and justify its recent moves in the industry.

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