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WynnBET joins Louisiana mobile sportsbook market

WynnBet news

Bettors in the Bayou State have one more mobile betting app to choose from following the launch of WynnBET this week.

The Wynn Resorts-owned sportsbook brand went live on Thursday, making it the seventh operator to join the recently regulated Louisiana mobile betting market. The sportsbook now joins DraftKings, FanDuel, BetMGM, Barstool Sportsbook, Caesars, and BetRivers in the state.

To mark the milestone, the operator is offering all its new customers in Louisiana a bonus of $200 in free bets if they deposit at least $10 and place a straight bet or parlay wager worth $10 or more. Patrons who sign up for new accounts will also gain immediate access to Wynn Resorts’ loyalty program, Wynn Rewards.

The Thursday launch is the second for WynnBET this month, and it comes just a week after the operator made its debut in the newly legalized New York mobile betting market.

Following the successful rollout in Louisiana, the brand now has an online presence in nine US states. The other jurisdictions where the sportsbook is operational include New Jersey, Indiana, Virginia, Colorado, Michigan, Tennessee, and Arizona.

Mobile sportsbooks to drive Louisiana sports betting growth

Louisiana rolled out its online sports gambling industry on January 28, three months after the start of in-person betting at commercial casinos.

Financial reports released by the state regulator in December and January show that the market was off to a great start as retail locations offering in-person betting reported more than $65 million in handle through the first two months of operation.

In November, the activity generated $27.6 million in handle and $5.7 million in revenue for operators, with the state collecting $568,571 in taxes from the industry. The handle for December was up to $39.5 million while the taxable revenue dropped to $4.4 million. The state collected $438,093 in taxes from licensees for the month.

Following the legalization of mobile sports wagering, Louisiana’s regulated market is expected to grow exponentially as it is now easier for bettors across the state to place wagers through online sportsbooks. A study commissioned by the AGA in 2017 projected that the industry could bring in over $5.1 billion in annual handle and $351 million in taxable hold at maturity, and a competitive mobile betting market is expected to be the key driver of this growth.

More operators await the green light to launch

With more than 40 online sportsbook licenses up for grabs, the Louisiana market has attracted interest from a good number of national operators.

Among those who are looking to launch their online sportsbook products in the state is PointsBet. The Australian-based operator secured access to Louisiana’s market in 2019 through a multi-state agreement with Penn National Gaming.

The other operator is Betfred, which is already operating a physical sportsbook at Paragon Casino Resort in Marksville. Tunica-Biloxi Tribe-owned facility was the first venue to take an in-person sports bet in the Bayou State when it opened its retail sportsbook on October 6. However, sports betting at the ma casino is not regulated by the Louisiana Gaming Control Commission.

TwinSpires is another probable operator since its parent company owns one of the 20 venues that are eligible for a sports wagering permit. TwinSpires is owned by Churchill Downs Incorporated, which also runs a casino at Fair Grounds Race Course in New Orleans.

There is also a good chance that Bally Bet and Golden Nugget will join the state’s market seeing that they have ties to casinos in the precinct. Fubo Gaming is also looking to launch its flagship digital sportsbook brand, Fubo Sportsbook, in Louisiana following its recent market access agreement with Caesars Entertainment.

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