Beginning Friday, August 11, WynnBet has stopped accepting wagers in all states except for Michigan, Nevada, and New York.
We regret to inform you that WynnBET will be closing its operations. As of August 11, 2023, WynnBET will no longer be accepting bets or allow igaming wagering in the following states AZ, CO, IN, NJ, TN, VA, LA, WV.
— WynnBET (@WynnBET) August 11, 2023
Julie Cameron-Doe, Chief Financial Officer for Wynn Resorts, issued the following statement in regard to the closures.
“In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders. While we believe in the long-term prospects of iGaming, the dearth of iGaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBET to focus primarily on those states where we maintain a physical presence.”
What Happened to WynnBet in Arizona?
Earlier this year, Arizona became the fastest state to handle $10 billion in wagers. WynnBet handled $173 million through May of 2023, a far cry from the $2 billion in Arizona wagers DraftKings and FanDuel handled each during that same time frame.
WynnBet simply couldn’t compete with the high-octane acquisition budgets of FanDuel and DraftKings, or even with Caesars and BetMGM. Due to its low placement on the list of betting apps in Arizona, the company have decided to pull out of the state.
What Does This Mean for Arizona Sports Bettors?
Unless you are planning to travel to either Michigan, Nevada, or New York, you must log into your WynnBet account, withdraw any funds you have and then close your betting account.
There have been reports of delays and extremely slow wait times due to overwhelming withdrawal requests. That’s to be expected, but if you just remain patient, WynnBet will pay all withdrawal requests as soon as possible.
The company’s bookmaking operation will continue to operate in Michigan, Nevada, and New York, and the apps are all taking bets through the website and its new and improved app.
For more information on online sportsbooks in Arizona, make sure you check us out at Betting AZ.