WynnBET, the casino, and sports betting app from Wynn Resorts has signaled a desire to become a major player in the US legal sports betting industry with some recent aggressive moves into the space. The latest is a sponsorship agreement with the NBA’s Memphis Grizzlies, which just happen to call one of the up-and-coming US legal sports betting states, Tennessee, home.
Despite a rough COVID-affected 2020 across the entire legal sports betting landscape in the United States, WynnBet is looking forward to 2021 and their expansion plans. Already live in Colorado, Michigan, and New Jersey, WynnBet has already gained market access into Indiana, Iowa, Massachusetts, Nevada, Ohio, and Tennessee’s online-only market.
The WynnBet partnership deal with the Grizzlies is said to be the first of many such alignments the sports betting provider is eyeing as we head deeper into 2021.
The WynnBet/Grizzlies multi-season partnership deal is similar to other deals that have been consummated between betting providers and individual NBA teams. But unlike other such generic deals, WynnBet’s goals seem to be tied to advertising online and coincide with Grizzlies’ digital entities.
A WynnBET/Grizzlies cooperation agreement is in place, targeting its digital promotion campaigns, including the Grizzlies’ social media, online presence and apps for before, during and after Grizzlies games. Their deal takes a unique “digital-first” approach and promises to capitalize on “high-impact experiences emblematic of the energy of both brands.”
Of course, included is WynnBet’s rights to use the Grizzlies brand, including all IP, marks, and logos across all of its digital platforms. WynnBet branding will also get the usual increased visibility options inside the FedExForum, home of the NBA team. There will be cross-promotional campaigns to elevate both the Grizzlies and WynnBet brands online.
Creation of a WynnBET-branded lounge that will be constructed at the Grizzlies’ FedExForum arena is also a key part of the deal.
Coup for WynnBet
WynnBet sportsbook is late joining the Tennessee betting party and obviously has some ground to make up, particularly because of their current competition in the state. BetMGM is already partnered with the Tennessee Titans and the two DFS giants-turned sports betting providers already have deals in place with the Grizzlies and Predators in the Tennessee market.
Exposure to WynnBet is crucial to make up that ground. Immediate exposure is what they get with their Memphis Grizzlies deal in a robust market that consists only of three other major providers.
WynnBet’s Continued Focus on Tennessee
WynnBet has been aggressive in pursuing opportunities in Tennessee and rightfully so. The state’s mobile-only platform posted the best-ever first 2-month period of any legal sports betting jurisdictions in the US market. Launched in November, the Tennessee market took in $312.3 million in bets in its first two months, easily besting Indiana which produced $126.9 million in its first two months of legalization.
WynnBet had its sports betting license approved just this past week and is in the midst of wading through the necessary security checks Tennessee license requirements. The sports betting provider hopes to go live soon, becoming Tennessee’s fifth legal sports betting operator.
WynnBet is already an Authorized Gaming Operator of NASCAR and the Official Online Sportsbook of the Martinsville Speedway and Richmond Raceway which aligns them to the Tennessee fanbase. Adding the Memphis Grizzlies into their fold will only aid in their pursuit of a fair sports betting market share in the state of Tennessee.
WynnBet’s Big Bet
WynnBet is officially All-In on the US legal sports betting industry and is out to make a name for themselves sooner rather than later. Brand exposure, thanks to deals like the one they have in place with the Memphis Grizzlies is the quickest way to announce their presence.
WynnBet’s acquisition of BetBull in 2020 was a sign that the gambling provider was ready to take on a bigger roll on the national sports betting scene and now we are seeing the vision come to light. Look for more WynnBet platforms going live in other jurisdictions with their mobile app throughout 2021, as Wynn Resorts capitalizes on the modern gold-rush of the US legal sports betting scene.