The Arizona Department of Gaming has announced bet365 as the latest commercial operator to open up in the state.
The ADG has revealed the UK-based operator as the designee for the Ak-Chin Community, after Fubo Sportsbook’s closure earlier in the year. The license is pursuant to Arizona’s Revised Statutes from the 55th Legislature, 2nd Session.
The Arizona mobile sports betting landscape will now feature 18 operators with the addition of bet365. bet365 is currently live in five states: Colorado, Iowa, New Jersey, Ohio and Virginia. Additionally, bet365 is set to launch in Kentucky when mobile sports betting goes live on 7 September, 2023.
Per Arizona’s law, bet365 has 180 days to launch after being given regulator approval. On June 30, 2023, ADG announced that it would be accepting applications for the remaining wagering licenses with one license reserved for Arizona Tribes and two for sports franchises. The tribal license was given to bet365, with the two sports franchise licenses not being given to any other operator.
The most recent revenue figures posted by the Arizona regulator saw $393.2 million sports betting handle in June. This was a significant decrease of 13.0% from $451.7 million in May 2023.
Of the mobile $390.3 million handle, the operator market share is as follows:
- FanDuel (37.5%)
- DraftKings (28.4%)
- BetMGM (14.3%)
- Caesars (10.2%)
- Penn/Barstool (2.9%)
The above are the top five operators by market share. bet365 will be looking to make inroads on the top five, with the other players in the market not taking more than $10 million in handle.The operator has taken a less gung-ho approach to the :US market than other operators, pulling out of a potential Massachusetts mobile sports betting entrance despite having a partnership with Raynham Park.
Raynham Park was again rebutted in its attempt to obtain a Category 2 license in MA. Regulators heard that they will not hear the case any further until Raynham Park can stand before the Commission with a sports betting operator partnership for its retail sportsbook.