The Arizona Department of Gaming (ADG) announced its intentions to add more options to the catalog of Arizona sportsbooks.
Arizona sports betting has been a behemoth since its inception in September 2021. It's just one of nine legal U.S. sports betting markets to surpass $15 billion in all-time handle.
Starting July 8, the ADG will accept applications for at least two event wagering licenses, one of which will be reserved for Arizona tribes and the other for Arizona sports franchises. Applications will close on July 19.
Fanatics was the most recent notable brand to launch a major sportsbook in Arizona, entering the market in April by way of its partnership with the Tonto Apache Tribe.
The ADG last opened applications for more licenses in August when it sought to bring three new options to the Arizona sports betting landscape.
Who’s next?
Of the 20 licenses that Arizona sports betting regulations allow for, 10 must go to Arizona’s Native American tribes while the other 10 can be linked to the state’s professional sports teams. To no surprise, FanDuel is the best online sportsbook in Arizona, touting a $266.8 million handle in March that accounted for 35% of all wagering activity. The Phoenix Suns are FanDuel’s license partner.
At present, the Suns-FanDuel union is one of eight licenses allocated to professional sports teams, while nine belong to the Tribes and their respective operator partners.
WynnBet recently decided to cease operations in the Arizona sports betting market as part of its pullback from essentially all of its U.S.-based jurisdictions. The operator had been affiliated with the San Carlos Apache Tribe.
Nevada-based Circa Sports could be a potential contender for one of the open licenses given its strong brand recognition within the American Southwest. Outside of FanDuel, all the heavy hitters already operate sportsbooks in Arizona. DraftKings was a close second to FanDuel with a $257.5 million handle in March, so together these two giants capture around 70% of the overall market share. bet365 preceded Fanatics with its entry in February, while ESPN BET formally arrived in November after rebranding the already operational Barstool Sportsbook in the state.
The Arizona Cardinals and BetMGM made history in September 2022 when they opened the first retail sportsbook at an NFL stadium.
Perhaps this opens the door for a local brand to rise up and establish a locally focused operation centered around a venue or tribal resort.
The NHL’s Arizona Coyotes are moving to Salt Lake City next season, so overall, change is in the air for the Arizona sports betting landscape.
