Last updated: September 01, 2023
Bet365 secures an Arizona sports betting license through a partnership with the Ak-Chin Indian Nation, as the state addresses gaps from Fubo’s exit and bolsters ties with pro sports teams.
The Ak-Chin Indian Nation, which was left without an online sports betting partner when Fubo shut down its sportsbook operation last October, received one of the three new sports wagering permits that ADG announced it would open bidding for in the state at the end of June. The other two permits are connected to professional sports teams that play in the state. Partnering with that tribe is Bet365.
The licensing application window for sporting events opened on August 1 and closed on August 15, 2023. According to a statement made by ADG, applicants had to submit their finished applications within this time frame in order to be considered for an event wagering license.
The agency’s announcement made no mention of what happened to the other two licenses or whether any other gaming companies competed for Bet365’s license.
Along with companies like Betfred, Bally Bet, Caesars Sportsbook, DraftKings, FanDuel, BetMGM, BlueBet and SuperBook Sports, among others, Bet365 will be the 17th sportsbook operator in Arizona.
The newest states to be included in the operator’s US footprint are Arizona and Kentucky. Bet365, a UK-based company, operates in New Jersey, Colorado and Ohio and has access to the Pennsylvania market. This demonstrates that Bet365 has access to lucrative markets and is approaching its US expansion strategically.
FanDuel and DraftKings dominate the mobile sports betting market in this nation, with BetMGM being the only other operator to have amassed a sizable market share. But for a long time, market analysts have considered Bet365 as one of the foreign businesses that might succeed in the fiercely competitive US sports betting market.
With an estimated 90 million customers worldwide, Bet365, which was established in 2000, is clearly a market leader in regions like the UK and Europe. Through Ontario, Canada, the most populous province in North America, in addition to its presence there, the operator is also exposed to that continent’s other countries.
Arizona has a thriving sports betting industry that operators find appealing. While Arizona’s land-based casinos are run by tribal organizations, unlike its neighbors California and Washington State, it has adopted a competitive sports betting model and welcomed outside competitors.
In terms of population size, the state is ranked 14th in the nation and has one of the fastest growth rates. Nevada’s extensive selection of online bookmakers tempts some bettors to go out of state in order to access a wide range of odds and wagers.
It is unknown what will happen with the state’s other license applications that are still pending, but it is possible that Fanatics will be one of the companies that does so in the future.
Marilyn Chavez is an associate researcher at the Missouri University of Science and Technology, where she studied the mathematical probabilities and aspects of casino games like slot machines. She’s written several case studies which have been published by multiple problem-gaming institutions to help spread awareness about the dangers of online gambling and gambling addiction. She also presented a 2019 Ted talk on the topic of gambling among minors.
