Bet365 Lands Arizona Sports Betting License

Bet365 Approved for Arizona Sports Wagering License

Bet365 has been granted a sports betting license in Arizona, making it the seventh state in the US where the operator has been licensed. The Arizona Department of Gaming (ADG) announced the approval on August 29, 2023.

The license was granted through a market access agreement with the Ak-Chin Indian Community, one of the 20 license holders in the state. The tribe was left without an online sports wagering partner when Fubo closed its sportsbook operation in October 2022.

In late June 2023, ADG opened bidding for three new sports wagering permits in the state, including one for the Ak-Chin Indian Nation. The application window for event wagering licenses opened on August 1, 2023, and closed on August 15, 2023.

It is unclear what happened to the other two licenses or whether other gaming operators bid for the permit that Bet365 won. ADG did not release the list of applicants or provide additional information regarding the bidding process.

Bet365’s expansion in the US continues with this latest license approval. The operator is already live in five other states, including Colorado, New Jersey, and Pennsylvania. The approval in Arizona allows the operator to expand its market share in the US sports betting industry.

Bet365 Making US Presence Felt

Bet365, a UK-based sportsbook operator, has been awarded a license to operate in Arizona as the designee for the Ak-Chin Indian Community. This move will make Bet365 the 17th sportsbook operator in Arizona, joining the likes of Bally Bet, Betfred, BetMGM, BlueBet, Caesars Sportsbook, DraftKings, FanDuel, and SuperBook Sports, among others.

Bet365 has already established a presence in Colorado, New Jersey, and Ohio and has market access in Pennsylvania. This confirms that the operator has access to attractive markets and is taking a pragmatic approach to expanding in the US. Industry analysts have long viewed Bet365 as one of the foreign companies that could make inroads in the hypercompetitive US sports wagering market.

Although the mobile sports wagering market in the US is primarily dominated by FanDuel and DraftKings, with BetMGM ranking as the only other operator that has cobbled together solid market share, Bet365 has an estimated 90 million customers around the world, confirming its dominance in markets such as the UK and Europe.

In addition to its US footprint, Bet365 has further North American exposure through Ontario, Canada, the country’s most populous province. With its global reach and experience, Bet365 is expected to impact the US sports wagering market significantly.

Arizona Allure

Arizona’s sports wagering market is an attractive option for operators due to its competitive model. While tribal entities control land-based casino gaming, the state has opened its doors to external entrants. Arizona is the 14th-largest state in the nation by population and one of the fastest-growing. Its broad menu of online operators even entices some bettors from Nevada to cross state lines to access an extensive suite of different odds and bets. The state has already awarded 18 sports betting licenses, including one to bet365 as the designee for the Ak-Chin Indian Community. It remains to be seen what comes of the other available licenses in the state. Still, it’s possible that Fanatics could be among the operators that eventually pursue one of those permits.

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