The sports betting industry in the United States continues to grow in terms of numbers, but there are some operators that are leaving the industry. You can now add WynnBET to that list as it has decided to shrink the number of states in which it operates.
Most of the sportsbooks that have been pulling out of states have been either international operators or small companies, but WynnBET doesn’t fall into either category. The company just hasn’t been able to find enough success to continue moving forward in the industry, and it’s going to create some holes in states.
The states in which WynnBET is ending its sports betting offerings include Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. There are some big markets included in that list, and WynnBET just hasn’t been able to compete with some of the other big names.
The company announced that it will continue to offer online sports betting in both Massachusetts and Nevada, as the company also has a solid retail presence in those states. Michigan and New York are two other markets in which WynnBET currently operates, and the company has not yet decided on what to do in those markets.
No Launch in Maryland
Not only will WynnBET be leaving eight states, but the company isn’t even going to get things rolling in the state of Maryland. WynnBET first received a sports betting license in Maryland back in December 2022, but it hadn’t yet been able to get up and running.
It has been an extremely slow process to get the Maryland sports betting market up and running, and WynnBET was getting frustrated by the lack of progress. The Maryland Sports Wagering Application Review Commission has been extremely slow in allowing operators to launch, as there is an intense process in place.
Maryland is a state that looks as if it will become a solid sports betting market, but it’s also loaded with big names. It’s impossible to know how WynnBET would have fared as the company didn’t even want to try it.
Open Licenses in Arizona, Virginia
With WynnBET deciding to give up on sports betting in several states, there are going to be some new licenses available. That is especially the case in both Arizona and Virginia, but each state will be taking a different approach to handing out those licenses.
This is especially big news in the state of Virginia, as the state was at its limit before this announcement from WynnBET. Since Virginia has proven to be a successful sports betting market, there will be some companies that will be looking to enter.
Arizona was previously at its limit, it seemed, but the state just opened up an application window for up to three new sports betting licenses. The state is at its limit for Native American tribes, but there are still some online licenses available for professional sports teams and events.