{"id":6432,"date":"2024-08-02T14:20:17","date_gmt":"2024-08-02T13:20:17","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6432"},"modified":"2024-08-02T14:20:21","modified_gmt":"2024-08-02T13:20:21","slug":"wynnbet-ceases-betting-services-in-new-york","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/08\/02\/wynnbet-ceases-betting-services-in-new-york\/","title":{"rendered":"WynnBet Ceases Betting Services in New York"},"content":{"rendered":"\n

WynnBet<\/strong> has officially stopped taking bets in New York City as of July 30.<\/p>\n\n\n\n

After two and a half years of operating in the Empire State, WynnBet has updated its website to add New York City to the list of 10 jurisdictions where its platform has ceased operations.<\/p>\n\n\n\n

Since launching in New York City in February 2022, WynnBet has accepted $233 million in wagers and just $11.3 million in revenue, ranking seventh and eighth out of nine, respectively.<\/p>\n\n\n\n

This continues WynnBet\u2019s significant decline in the U.S. market. Last August, Wynn Resorts announced it was ceasing operations in eight of the 12 U.S. jurisdictions where WynnBet operated.<\/p>\n\n\n\n

The company has also since left the Massachusetts online sports betting market and the Michigan online gaming market.<\/p>\n\n\n\n

ESPN Bet Ready to Take Over<\/strong><\/p>\n\n\n\n

ESPN<\/strong> Bet is expected to step in to fill the void.<\/p>\n\n\n\n

In February, WynnBet agreed to transfer its New York sports betting license to PENN Entertainment.<\/strong><\/p>\n\n\n\n

PENN paid about $25 million for the license, which is the same amount WynnBet paid to enter the market.<\/p>\n\n\n\n

ESPN Bet will soon have access to the state with the largest reach in the country, despite the 51% tax it imposes on online sportsbooks.<\/p>\n\n\n\n

New York limits the number of betting operators to nine. In addition to Wynn, the state includes FanDuel, DraftKings, Caesars, Bally Bet, BetMGM, BetRivers, Fanatics, and Resorts World.<\/strong><\/p>\n\n\n\n

Wynn plans to continue its New York operation in another way. The company is set to apply for a new casino license in the downstate and has identified Hudson Yards as a potential site.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WynnBet has officially stopped taking bets in New York City as of July 30. After two and a half years of operating in the Empire State, WynnBet has updated its website to add New York City to the list of 10 jurisdictions where its platform has ceased operations. 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