Another USA Sportsbook property broke The Wynn

[jjgold]

Wynn Resorts is looking to unload its online sports-betting business at a steep discount as the fledgling niche faces painful losses from stiff taxes and costly promotions needed to lure customers, The Post has learned.

The Las Vegas-based casino giant is quietly shopping its Wynn Interactive unit — operator of the WynnBet online gaming app — and has slashed the asking price to $500 million after floating a $3 billion valuation less than a year ago, a source close to the situation told The Post.

[MinnesotaFats]

Did Caesars buy theirs back from WMH after the merger or wtf happened there?

Seems Casinos are just not interested in the book anymore, probably make more licensing their name to a 3rd party software operator

[jjgold]

No idea Fatty

These books realizing not much money in it

[big joe 1212]

NY books getting killed with all these promos

Everyone in the state took free money from Caesars. It’s almost like Biden is running that book.

[jjgold]

Lol good one

[MinnesotaFats]

DraftKings still losing hundreds of millions

Just PUMPING EVERYTHING into TV ads and investors paying the price

[gshock1]

Offshore is only going to get stronger after the dust settles

[rake922]

[mjsuax13]

Did Caesars buy theirs back from WMH after the merger or wtf happened there?

Seems Casinos are just not interested in the book anymore, probably make more licensing their name to a 3rd party software operator

Most aren’t interested in the book anymore. I’m in YPO with a GM of a strip property and he says it’s wasted space because on most days it doesn’t generate much revenue like restaurants, slots, shops, etc… you get the $5 bettor in there sitting all day. I’d license it to keep my brand top of mind and move on. Particularly Wynn.

[Waterstpub87]

I like Wynn bet. They tend to have really offmarket lines (often like a point different on NBA totals, normally a half on sides). You can get pretty good deals. It a shame if someone else picked it up and moved it closer to the market.

[topgame85]

3-5 yrs from now, if iGaming can get the nod in 5-10 more states, books are hugely profitable. Daily fantasy was meant to build a path to online sportsbook. Online Sportsbook to iGaming. Worst case is you buy now, books halve, and get bought out in a year for today's valuation. Essentially a breakeven minus opportunity cost. On the other hand, a group of states that over projected OSB revenue cave and let in iGaming. You make 5-10x on your investment. Jackpot!

[mjsuax13]

We should start a book.

[ChuckyTheGoat]

We should start a book.

JJ Gold Sportsbook. Tell me that wouldn't be awesome!

[nyplayer33]

NY books getting killed with all these promos

Everyone in the state took free money from Caesars. It’s almost like Biden is running that book.

Where in New york is this

[ChuckyTheGoat]

Wynn is a beautiful property. Love the walk thru the Art Gallery.

[Getch13]

New York Wows With $603 Million Sports Betting Handle In First Nine Days

https://www.nyonlinegambling.com/new-york-early-bonkers-handle-total/

[weeminer]

3-5 yrs from now, if iGaming can get the nod in 5-10 more states, books are hugely profitable. Daily fantasy was meant to build a path to online sportsbook. Online Sportsbook to iGaming. Worst case is you buy now, books halve, and get bought out in a year for today's valuation. Essentially a breakeven minus opportunity cost. On the other hand, a group of states that over projected OSB revenue cave and let in iGaming. You make 5-10x on your investment. Jackpot!

Yeah everyone loves pointing out how the current spending makes no sense for low margin sportsbetting business, but the real play here is online casinos which will just take a few more years. Meanwhile this is best time ever to be a sports bettor. Like the early days of online poker, anyone with half a brain is making money right now.

[captrobey]

Another thing i do not like about Caesars is the site they have that was for sports and casino all of a sudden even though it shows sports too once you hit it you do not get sports. They give you a totally separate link that has Sports and casino and it will not let you transfer it over to there you are stuck with the damn rigged casino games .

I do not play a lot on there but once in awhile i throw a small amount on fully expecting to lose it. Just for fun. I actually worked it up to $1700 or so then tried to switch over to Sports . It would not let me . So i went back into the casino and got it to $2800 i think it was and just cashed out .

[blackbart]

Like the early days of offshore sports betting, anyone with half a brain is making money right now.

[d2bets]

I like Wynn bet. They tend to have really offmarket lines (often like a point different on NBA totals, normally a half on sides). You can get pretty good deals. It a shame if someone else picked it up and moved it closer to the market.

Do they mind you betting those? How are the limits?

[jjgold]

Do they mind you betting those? How are the limits?

its like 90% of books in world if you beat closers on a regular basis your gone even if you lose millions

[JAKEPEAVY21]

Wynn is a beautiful property. Love the walk thru the Art Gallery.

Chucky, you are a worldly degenerate.

[d2bets]

its like 90% of books in world if you beat closers on a regular basis your gone even if you lose millions

If you beat closers on a regular basis you literally can't lose millions.

[Waterstpub87]

Do they mind you betting those? How are the limits?

It hasn't seemed like it, but it hasn't been that long, been on them consistently for a couple months. Limits are atleast 1,000.

[d2bets]

It hasn't seemed like it, but it hasn't been that long, been on them consistently for a couple months. Limits are atleast 1,000.

Nice. I'm crossing my fingers that Wynn will be one of the new IL books in March.

[KiDBaZkiT]

Offshore is only going to get stronger after the dust settles

Offshore is fukking trash. These books back East seem to have issues but my god offshore isnt the answer. Cannot fukking WAIT to move back to Nevada. Can’t Fukkin wait!!

[Waterstpub87]

Nice. I'm crossing my fingers that Wynn will be one of the new IL books in March.

Prime example for NBA tomorrow:
Mem at SAS total points:

Draftkings 227.5
Betmgm 227.5
Pointsbet 228
Everywhere else: 227.5

Wynnbet: 229

I'll take that free point and a half on the under. There is one of these every other night where its out of wack.

[dark star]

Wynn is solid book for straight bets.The props are horrible

[Waterstpub87]

Wynn is solid book for straight bets.The props are horrible

Agreed. Not the book for props.

[hehfest]

Agreed. Not the book for props.

Like Wynn too. I notice something similar at PointsBet. They will have their juice on many games like this on normally "live" bets but still deviations on pre-game too:
MGM: -160
PointsBet: -210

[hehfest]

Did Caesars buy theirs back from WMH after the merger or wtf happened there?

Seems Casinos are just not interested in the book anymore, probably make more licensing their name to a 3rd party software operator

Caesars spends so much on those dam commercials (with your favorite buddy? Joking.) yet they can't answer their phone, live chat, or email. Very strange. Not going to deal with them....not that they would care. The Egyptian Cleopatra chick is smoking hot though (even though its a wig) in those commercials.

[jjgold]

straight only if anything wynn

[d2bets]

It hasn't seemed like it, but it hasn't been that long, been on them consistently for a couple months. Limits are atleast 1,000.

Are you betting dimes on these plays there?

[Waterstpub87]

Are you betting dimes on these plays there?

I'm small time. $150 a play normally. But I've hedged free play there, and they took larger bets, so my assumption is they do take the larger bets. I hedged like 2,000 to win 1,200 or so when hedging the Caesars 5,000 risk free.

One if the downsides of legal books is they never say upfront what the limits are.

[DontTailMe]

Offshore is fukking trash. These books back East seem to have issues but my god offshore isnt the answer. Cannot fukking WAIT to move back to Nevada. Can’t Fukkin wait!!

Depends on what you're looking for I guess. Several offshore books put up with a considerable amount of winning. I do not look forward to the day that offshores pull out of my state.