Bet365 obtains Arizona sports betting license
Bet365’s expansion in the United States continues, with the operator receiving a sports betting license from Arizona. The Arizona Department of Gaming (ADG) made the announcement on Tuesday.
In late June, ADG announced it would put out for bidding three new sports betting licenses in the state, two for the state’s professional sports teams and one for the Ak-Chin Indian Nation. The latter no longer has an online sports betting partner when Fubo shut down its sports betting business last October. Bet365 works with this tribe.
The application window for an event betting license opens on August 1, 2023 and closes on August 15, 2023. Applicants must submit a complete application during this period to be considered for an event betting license. ” According to a statement from ADG.
The agency's statement did not provide details on the fate of the other two licenses or mention whether other gambling operators were applying for the approval Bet365 received.
Bet365 makes the US market noticeable
Bet365 will become the 17th sportsbook in Arizona, joining the likes of Bally Bet, Betfred, BetMGM, BlueBet, Caesars Sportsbook, DraftKings, FanDuel and SuperBook Sports.
Arizona and Kentucky are the operator's latest U.S. operations. UK-based Bet365 operates in Colorado, New Jersey and Ohio, and has market access in Pennsylvania. This confirms that Bet365 has entered an attractive market and is taking a pragmatic approach to expansion in the United States.
The mobile sports betting market in this country is dominated by FanDuel and DraftKings, with BetMGM the only other operator holding a solid market share. Industry analysts have long viewed Bet365 as one of the foreign companies capable of gaining a foothold in the competitive U.S. sports betting market.
Founded in 2000, Bet365 has an estimated 90 million customers worldwide, confirming its dominance in markets such as the UK and Europe. In addition to its operations in the United States, the carrier operates in North America through Ontario, Canada's most populous province.
ArizonaCharm
Arizona is an attractive sports betting market for operators. While brick-and-mortar casino gambling is controlled by tribal entities, Arizona, unlike California and Washington state, has adopted a competitive sports betting model and opened its doors to outside players.
Additionally, the state ranks 14th in the nation in population and is one of the fastest growing states. Its wide range of online providers even draws some Nevada bettors across state lines to get access to a variety of odds and bets.
What happens with other available licenses in the state remains to be seen. But Fanatics may be one of the operators that ends up applying for one of these licenses.
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Source: www.casino.org
