Arizona Sports Wagering Scene Could Add 3 New Licensees

Arizona is already a booming and rapidly growing sports betting market in the country, and is predicted to increase the amount of sportsbooks that abide by state regulations.

Once former Arizona Governor Doug Ducey (R) signed the state’s sports betting law in late 2021, the Arizona Department of Gaming (ADG) was poised to award three more licenses. To this end, the ADG is scheduled to host a session later this month to inform aspiring applicants on the application process prior to August. The licenses will be allotted to two professional sports teams and their respective gaming companies, as well as one tribal entity – potentially the Ak-Chin Indian Nation.

This brings the total number of license holders up to 20, from the initial list of 18 since Fubo shuttered its sportsbook operation in October of last year.

The Arizona sports wagering market has attracted a total of 17 organizations, such as Bally Bet, Barstool Sportsbook, Betfred, BetMGM, BlueBet, Caesars Sportsbook, DraftKings, FanDuel, Golden Nugget, Hard Rock International, and SuperBook Sports. PointsBet, which holds a license in the state, is likely to transfer that license to Fanatics upon the latter’s acquisition of the former’s US unit.

Arizona Alluring Sports Wagering Market

The cost for gaming companies to apply for an Arizona sports wagering license is an attractive $100K, with the fee reaching $750K if approved. It is clear that those figures are not a deterrent, as the Arizona sports wagering market is thriving. Recent figures reveal that it is the fifth state to record a sports betting handle of $10 billion in just 20 months – smashing Illinois’ record by two months, in spite of the former’s significantly higher population. Additionally, Arizona is seeing the ninth-fastest population growth rate in the USA, as well as a notable presence among states offering mobile wagering in third spot. Companies that could potentially bid for an Arizona license include: ___________________.

What Operators Could Vie for Arizona Licenses

With 17 permits already taken for Arizona’s sports betting market, the number of potential bidders is rather limited. As of now, no gaming company has made an official announcement that it is planning to bid for one of the licenses, but it is expected that Bet365, Betr, and Tipico may take part in the process. Another possibility is the establishment of Circa Sports, which is a renowned player in the sports wagering sector, and is searching for a low tax environment to open in. Though Circa has not formally stated any interest in Arizona, they will be soon launching operations in Illinois.