The Arizona Department of Gaming is opening up the application process for sportsbook operators to three new licensees. The state allows for a grand total of 20 licenses but initially issued only 18. The tribal licensees reached the cap of 10 while the event arena locations only had eight of 10 licenses issued by ADG.
Since then, Fubo Sportsbook has shut down operations, leaving Ak-Chin Indian Nation without an online sportsbook. That opened up one new potential tribal licensee. Along with that, the state is seeking to fill out the remaining event wagering licenses as well.
The application to apply will go live on the ADG website on July 14. The regulators will also host an informational webinar on July 17 for interested parties. The actual application window will run from Aug. 1-15.
The licensing fee for operators in Arizona is $750,000, $100,000 of which is due with the application. The tax rate for sports betting in the state is 8% for retail sportsbooks and 10% for online betting apps.
When Arizona first sought applications for sports betting in the state there were more tribes than available licenses. Accordingly, Yavapai-Apache Nation and its partner PointsBet failed to get into the state.
With Fanatics acquiring PointsBet, this opens an opportunity to get into a state it previously did not have access to. Other operators not currently in Arizona include bet365, Tipico, and Betr.
As for possible event venues that would work with an operator in the state, the USL team Phoenix Rising FC has yet to team up with a sportsbook. There are other, smaller soccer teams and indoor football venues which could potentially put in an application as well.
The state has generated more than $10 billion in revenue since launching sports betting in September 2021. No state has generated that benchmark of handle faster. It is one of the ten biggest markets in the nation.
