WynnBET's Improved Sports Betting App Goes Live in 6 States

WynnBET, which has been a middling name in the U.S. legal sports betting industry, has launched a new app aimed at improving the overall quality of gambling experience.

WynnBET last week officially replaced their state-specific apps with a new multi-state platform in Arizona, Colorado, Indiana, Louisiana, Tennessee, and Virginia, with the expectation that the company will introduce its new and improved product in their other locations, in Massachusetts, West Virginia, and New York in the very near future.

Current WynnBET customers will be directed this week to download the new app. Any current bets, funds and Wynn Rewards will automatically be transferred to their new accounts upon download of the new version of the app.

Wynn Sports Interactive president Ian Williams, in a statement said: “We are thrilled to introduce the new WynnBET app with enhanced sportsbook technology to six more markets, which continues our commitment to offer players a five-star experience in each of the states we operate in. We would like to thank state regulators for their timely review of our new platform as well as the many WynnBET team members and partners involved in this project for their diligent work in finalizing this significant task in a short amount of time."

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What the new WynnBET app brings

The new WynnBET app aims to streamline the betting experience for customers in all 11 jurisdictions they currently have a presence in. Deposits and withdrawals will become standardized, and therefore quicker and more seamless across the entire WynnBET network, as will login procedures in every one of the WynnBET app states.

Along with the new product will come a better selection of sports betting markets and accompanying casino gaming options, as well as a "travelling wallet" for those customers that have set up accounts in their home states.

Geolocation technology will be extended to current users to make the WynnBET promo code available to customers who have an account. Wynn Rewards will become a regular part of all customers' experience with the new and improved app.

One single login will be required in all states where WynnBET has a presence, instead of different logins for different states.

Building on some momentum

WynnBET, despite being a respected name among the best sports betting apps, has struggled to gain a reasonable sports betting market share in the states that they are live in right now. Despite not catching on as hoped, the company, according to revenue reports is actually doing OK, with the expectation of improving along with their new sports betting product.

WynnBET released its quarterly revenue report back in May. The company actually performed quite well in Q1 compared to the best sportsbooks. Operating revenues were reported to be $1.42 billion, up from $953.3 million for Q1 of 2022.

Net incomes for Q1 came in at $12.3 million, a substantial improvement from the $183.3 million net loss in Q1 of 2022. Adjusted earnings of $0.29 per share was miles ahead of the $0.01 per share that analysts expected for the quarter.

Wynn Interactive hopes to continue the momentum and all eyes will be on the Q2 earnings report which is due later this week.

What's next?

The new WynnBET app launched in Arizona, Colorado, Indiana, Louisiana, Tennessee, and Virginia will take effect immediately. The numbers out of those states will be heavily scrutinized going forward as the company attempts to gain a bigger market share.

Massachusetts, West Virginia, and New York, the biggest market in the country, will come next for the company. Roll out of the new WynnBET app in those three states doesn't yet have a timeframe but as always, the start of the NFL season is likely the goal.

Will WynnBET become a bigger player in the U.S. market thanks to an improved platform? It remains to be seen if they, or any sports betting company for that matter will be able to cut into FanDuel and DraftKings, which have dominated the legal sports betting markets in the U.S. for years.