Posted on: February 16, 2021, 08:14h.
Last updated on: February 16, 2021, 11:00h.
Sports betting data provider Genius Sports and Wynn Resorts’ WynnBET unit have reached an agreement to provide the sportsbook operator with data services.
Financial terms of the pact weren’t disclosed. London-based Genius is now providing WynnBET with its LiveData and LiveTrading services for in-game wagering in Colorado, Michigan, and New Jersey. Those are the states in which the sportsbook operator is currently live. But the parent company recently said it “secured market access and have submitted an application for licensing in Indiana, have secured market access in Iowa and Ohio, have received conditional licensing in Tennessee, and have submitted an application for licensing in Virginia.”
In-game, or live wagering, is viewed as a growth area for gaming companies, because it’s an avenue for increasing engagement among young, tech-savvy bettors, and provides operators with another revenue stream.
With growing numbers of states introducing online betting regulation, in-game handle is quickly rising — and WynnBET recognizes the direct engagement and revenue benefits of official data in this landscape,” said Genius Chief Commercial Officer Jack Davison in a statement.
In-game betting is popular in Europe and other markets outside, and is seen as conducive to slower-moving sports with frequent stoppages in action, such as golf and baseball.
Genius, WynnBET Accord Already Debuted
Genius and WynnBET launched the partnership during the Daytona 500 two days ago. The deal will enable WynnBET to offer more than 15 varieties of in-race wagers over the course of the 2021 NASCAR Monster Energy Cup Series slate.
That jibes with Wynn’s previously revealed plans for involvement in NASCAR wagering offerings. Last October, the operator announced a multi-year national sports betting partnership with the stock car auto racing association, which coincided with its application for a sports betting licenses in Virginia. The commonwealth hosts four Monster Energy races per year.
Auto racing may never reach the heights of football or basketball among bettors in the US, but the sport is conducive to a variety of unique wagers and prop bets. Additionally, NASCAR races feature a pair of breaks after the completion of a race’s first two stages, and interruptions for caution flags, meaning the sport is potentially fertile ground for live betting.
The Genius/WynnBET accord also reaches into some international sports.
“The new partnership will also involve Genius’ ultra-fast, reliable official data content for hundreds of international soccer, basketball, ice hockey, table tennis and volleyball federations and leagues, including the English Premier League, Italian Serie A, German Bundesliga, LigaMX, Euroleague Basketball, and Argentine soccer,” according to the statement.
US bettors embraced offbeat events, while American sports were shut down last year because of the coronavirus pandemic. Even with the return of traditional sports, table tennis remains one of the most heavily wagered competitions in Colorado.