As part of the deal, Genius will supply WynnBET, Wynn Resorts’ online U.S. sportsbook brand, with live data and live trading services in New Jersey, Colorado, and Michigan – three states in which Wynn currently operates. The partnership also provides Wynn with access to Genius’ in-game betting services in other states once the company expands into additional jurisdictions. Headquartered in Jersey City, WynnBET launched in November following its acquisition of U.K.-based BetBull. WynnBET further accelerated its expansion throughout the U.S. sports betting market by establishing an $80 million joint venture with BetBull.
U.K.-headquartered Genius Sports Group, a sports betting data and technology provider, has partnerships with the NBA, NASCAR, the PGA Tour, and the English Premier League, among others.
“Along with its broad market-access and nationally recognizable brand name, Genius is an ideal partner to enhance WynnBET’s expanding online sportsbook and in-game betting offering,” Genius Sports Chief Commercial Officer Jack Davison said in a statement.
NASCAR In-Race Betting
Genius Sports also inked a partnership with NASCAR in May 2019 in a deal under which Genius became the exclusive provider of NASCAR sports betting data to licensed sportsbooks. As a result of the deal, Genius began the construction of a real-time betting platform for NASCAR in-race wagering markets. NASCAR subsequently signed a multi-year sports betting deal with WynnBET last October.
Michael McDowell beats 100-1 odds in upset Daytona 500 win after fiery crash on last lap https://t.co/aBzSAYYcht
— 13WMAZ News (@13wmaznews) February 15, 2021
Few sports lend themselves more to the fast-paced nature of in-game betting than NASCAR. The partnership with Genius enabled WynnBET to offer more than 15 in-race bet-types during the 2021 Cup Series, starting with last weekend’s Daytona 500. Upon last fall’s agreement with Wynn, NASCAR indicated that it would explore offering bet types as unique as driver matchups, stage winners, over-unders on the winning car, and the manufacturer of the race winner.
On Monday, a longshot prevailed when Front Row Motorsports driver Michael McDowell used a late rally to capture the Daytona 500. McDowell’s odds varied from 66/1 to 100/1 at top sportsbooks nationwide. A bettor at William Hill in Nevada cashed a $10,000 ticket when he placed a $100 wager on McDowell at odds of 100/1.
Nevertheless, sports betting experts have expressed concerns associated with the theoretical hold of certain markets in NASCAR. As a result, questions persist about the profitability of betting on various group wagers and other props.
While it's good to see in-play betting available for NASCAR. I haven't seen a market with less than a 25% theoretical hold.
Maybe someone will be brave enough to offer in-play H2H matchups. Can't be any worse than booking in-play Russian Ping Pong.🤔
— Captain Jack Andrews (@capjack2000) February 14, 2021
Expansion at WynnBET
Besides the aforementioned states, WynnBET has plans to expand sports betting operations into additional jurisdictions in the coming months. In Virginia, Wynn partnered with two NASCAR racetracks — Martinsville Speedway and Richmond Raceway — in pursuit of obtaining a sports betting license. WynnBET has submitted a sports betting license application with regulators in Virginia, which was pending as of Tuesday morning. Wynn Resorts also announced Feb. 9 that WynnBET was conditionally approved to offer sports gambling in Tennessee.
Much like Virginia, Tennessee is home to a large fanbase among NASCAR supporters. Two tracks in the Volunteer State, the Nashville Superspeedway and the Bristol Motor Speedway, will host races on the 2021 NASCAR schedule. With the licensing action in Tennessee, WynnBET now has sports betting market access to nine states nationwide.
Beyond NASCAR, Genius Sports also has numerous partnerships with U.S. domestic and global professional sports leagues. The partnership between Genius Sports and WynnBET will also cover official data content for the English Premier League, Italian Serie A, German Bundesliga, LigaMX, and Euroleague Basketball, the companies said.