WynnBET Inks Sponsorship Deal With Cincinnati Reds in Ohio
WynnBET on Tuesday announced a partnership with the Cincinnati Reds the same day the Ohio lawmakers approved sports betting with key amendments.
The corporate partnership with the Ohio-based Major League Baseball (MLB) will allow WynnBET to collaborate on market efforts throughout the current 2021 season to introduce the online sportsbook to Reds fans in Indiana. WynnBET, the digital arm of Las Vegas-based Wynn Resorts, pushes its expansionist plans in the state.
WynnBET’s collaboration with the Cincinnati Reds comes months before Ohio sports betting is scheduled to launch by April 2022.
The Indiana state line – where WynnBET had launched recently – is just a 20-minute drive from downtown Cincinnati.
Key Details of the Deal
The deal, whose terms were not disclosed, will provide WynnBET access to official marks and logos of the baseball team for use across its digital products. The sportsbook will also have access to robust marketing assets to create co-branded promotional offers for sports bettors that are available only via the WynnBET app for consumers in Indiana.
In addition, the digital sportsbook will be offering fans the chance to win Red game tickets and team memorabilia through promotions.
A Strategic Expansion
WynnBET’s announcement that came Tuesday through a news release is an interesting development surrounding Ohio sports betting. It happened the same day when important developments took place regarding SB 176, which will legalize sports betting in the Buckeye State soon.
On Tuesday, The Ohio Senate Select Committee on Gaming expanded sports betting, besides adding Type C for betting kiosks at venues that serve liquor. The committee also increased sports betting licenses for Type A and Type B to 25 and 33, respectively. Earlier both types were capped at 20 licenses each.
The amended legislation now gives preference to Ohio sports leagues for sports betting licenses. The Buckeye State is home to ten professional sports teams and leagues, including Cincinnati Reds.
Why Targeting Indiana Through Ohio-based Team?
In the news release, WynnBET noted its partnership with Cincinnati Reds is aimed at expanding in the state of Indiana. But it is interesting to note that the WynnBET is already live in the Hoosier State since April 1.
According to the recent figures released by Indiana Gaming Commission, WynnBET reported just $485,306 in May bets. It represents 0.2% of the market share.
Besides improving its performance in Indiana, WynnBET- Cincinnati Reds corporate partnership will also be muscle-stretching until Ohio sports betting is available in the Buckeye State sometime around April 2022.
WynnBET, An Important Player in US Sports Betting
In recent months, the sportsbook has taken important steps to strengthen its position as a formidable entity in US sports betting. WynnBET has struck marketing collaborations with several high-profile sports franchises.
In addition to the most recent deal with the Cincinnati Reds, WynnBET is already an esteemed partner of Memphis Grizzlies, Detroit Pistons, as well as an authorized gaming operator of NASCAR. WynnBET is also named as the official online sportsbook of the Martinsville Speedway and Richmond Raceway.
Senior product manager for Wynn Interactive Gavin Deadman took to Twitter on Tuesday to hail the news of the partnership: