The Arizona Department of Gaming has announced that it has an opening for three sports betting licenses now. Meaning the Department is looking for three operators to file the application and get selected for their operations in the region. Only 20 licenses are allowed to be held in the region, out of which 10 are specifically kept aside for tribal licenses, and the remaining are for event arena locations.
As of now, all 10 tribal licenses have been allocated, and the event location license is out by 8, leaving only two spots left. The one opening came up after Fubo Sportsbook closed its operations. That made way for the opening of one tribal license. So, 2 event location licenses and 1 tribal license are up for grabs by the Arizona Department of Gaming.
Four brands are looking to contest this race. These include bet365, PointsBet, Betr, and Tipico. Needless to say, there are many more brands that are coming forward; however, these four sports betting sites are under the spotlight for their reputation as an operator. PointsBet is leading the charts after it missed the round by a close margin.
The acquisition at that time was in a collective effort with Yavapai-Apache Nation. The brand is now making a comeback with a stronger intention to claim the license. Whether it actually receives the license from the Arizona Department of Gaming remains to be seen. By the looks of it, PointsBet will do everything in its power to secure the license and get the business going in Arizona.
Brands can begin filling up the application of interest from July 14, 2023. The application window by the Department will effectively run from the first date of August to August 15, 2023. Every license costs $750,000. Out of that amount, brands must shell out $100,000 at the time of lodging the application.
Seeing brands go gaga for a license in Arizona makes one wonder what is so special about the region. Reportedly, Arizona is witnessing a rise in the market of sports betting. March became the second strongest month, with over $644.7 million wagered during the month. This is an increase of 5.8% from February 2023.
Arizona has benefited from the rise. Per reports, the region has collected approximately $8.2 million during the first three months of 2023 in tax revenue. This is a huge jump when one considers the figure for the same period in the previous year. That number was worth $4.4 million.
The handle was worth $1.84 billion in the first quarter of 2023 alone, making it the 7th highest handle among the states where sports betting is legal. New York rules at the top spot, followed by Illinois and New Jersey in the second and third spots, respectively. Other regions are Nevada and Ohio.
Arizona legalized sports betting in September 2021. The coming months will see the region celebrate the 2-year anniversary, hopefully for a brighter and more entertaining future.