Possible new entrants in Arizona could include Bet365 and Fanatics.
Bet365 and Fanatics may be among businesses vying for one of three new sportsbook licenses available in Arizona.
When Arizona legalized sports betting in 2021, it set aside 20 permits. Currently, 17 licenses have been claimed. The Arizona Department of Gaming (ADG) will award two licenses to professional sports teams partnering with gaming companies, and one to a tribal entity. It's possible the tribal license will be given to the Ak-Chin Indian Nation, who lost their online sports betting partner when Fubo closed their sportsbook last October.
The group of 17 includes Bally Bet, Barstool Sportsbook, Betfred, BetMGM, BlueBet, Caesars Sportsbook, DraftKings, FanDuel, Golden Nugget, Hard Rock International, and SuperBook Sports. Bet365, one of the largest sportsbook operators in regulated markets outside the US, and newcomer Fanatics may try to join this group.
Two companies that could particularly stand out are Bet365, which has been operational in Colorado since last fall and has captured an estimated 6% market share in the last three months, and ambitious Fanatics, according to research firm Eilers & Krejcik Gaming (EKG).
Based in the UK, Bet365 is seen as having the resources to become a significant player in the US sports wagering market. It's currently operational in Colorado, New Jersey, and Ohio, and has market access in Pennsylvania.
Coloardo vs. Arizona
In the early days of the US sports betting boom, many sportsbook operators entered multiple states quickly with profitability as a secondary concern.
This approach has changed, and it's relevant when discussing Arizona because the market is saturated and dominated by FanDuel, DraftKings, and BetMGM. These three companies hold an 84% share of the mobile betting market in the state, making it a daunting challenge for newcomers.
However, Arizona is an attractive market for ambitious sportsbook operators, and the comparisons to Colorado are helpful.
"Colorado's population of about 2% of US adults, reasonable tax and fee structure, and generous market access landscape (i.e., 20+ skins), are all similar to Arizona," stated EKG. "Colorado supports 24 online sportsbook brands, compared to Arizona's 17."
Other Contenders?
Bet365 has the funds to succeed in Arizona and Fanatics wants to expand its sports wagering presence, making both suitable competitors for an Arizona permit, even though neither company has officially stated their plans.
The application process begins next month, providing further insight into which operators hope to enter the Arizona market.
Another potential contender is Las Vegas-based Circa Sports. Though they haven't confirmed interest in an Arizona license, they're currently running in Colorado. Additionally, Arizona's proximity to Nevada may give Circa an advantage in brand recognition.
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Source: www.casino.org
