WynnBet Enters into a Sponsorship Agreement with the Cincinnati Reds
Continuing an accelerating trend, WynnBet has signed a sponsorship agreement with Major League Baseball’s Cincinnati Reds, probably in anticipation of the legalization of sports betting in the state of Ohio. The deal will provide WynnBet exclusive access to the Reds’ promotional materials and the ability to give away tickets and other memorabilia that contains the team’s logo.
Wynn Resorts has been aggressively expanding its footprint in the sports betting space as more states continue to legalize the practice. The WynnBet brand is their mobile betting application that is currently approved for use in Colorado, Indiana, Michigan, New Jersey, Tennessee, and Virginia.
Ohio Sports Betting Legislation
Ohio is currently considering legislation to legalize sports betting in the state, with one bill recently approved by the Senate, but it still needs to be voted on in the House of Representatives and signed by Governor Mike DeWine. The Senate made numerous changes to the legislation as it worked its way through committee, so it’s likely the House will also have parts of the bill that it amends.
As the bill stands, it will give preference for sports betting licenses to professional teams and events, such as the Reds and the Indians, as well as the NBA, NFL, MLS franchises and the Memorial Tournament and NASCAR races that take place in Ohio. The legislation also calls for the issuance of up to 58 licenses to be spread out across the state, giving sports betting access to virtually the entire population of Ohio.
WynnBet Securing the Advantage
WynnBet’s agreement would give the sportsbook operator a key advantage at becoming an approved provider in Ohio, particularly with the preference the Cincinnati Reds will receive from the state. While DeWine has indicated that sports betting is inevitable in Ohio, there are still questions as to whether it will be allowed under the state’s constitution.
Currently, the Ohio constitution bans all types of gambling but has granted exceptions for the state-run lottery and a limited number of casinos. However, with the legislation set to broadly increase gambling with sports betting locations throughout the state, it’s likely that the bill will end up being challenged in court between the time the governor signs it into law and when full implementation occurs.
If everything happens according to plan, Ohioans could expect to make their first legal wagers on sports as early as April 2022. However, between what the House is expected to do and if there are any legal challenges, that date could easily get pushed farther into the future or even stopped entirely.
All of this legal sports betting activity was made possible when the Supreme Court of the United States struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, paving the way for states to decide whether to approve wagering on sports. Under PASPA, Nevada had enjoyed a monopoly on sports betting in the United States until it was challenged by the state of New Jersey, with the highest court in the land agreeing with them.
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