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The Arizona Department of Gaming (ADG) has announced that it will be accepting applications for up to three additional event wagering licenses, which is an exciting development for Arizona’s gaming industry. throughout compliance with the applicable legislation, these licenses will be made available to Arizona Tribes (one license) and sports franchises (two licenses) throughout the state.
On July 14, the ADG will publish revised application forms and instructions on its website to ensure openness and accessibility. Prospective candidates are highly encouraged to thoroughly read these materials in order to have a thorough grasp of the application procedure and the prerequisites.
On July 17, the department will offer an educational webinar to help prospective candidates. This webinar will give explanations, answer any questions candidates may have, and provide insightful information about the application process.
Event wagering license applications will be accepted from August 1, 2023, through August 15, 2023. To be deemed eligible, candidates must be well-prepared and submit their finished applications within this window of time.
Following the receipt of applications, the ADG will carefully review all received proposals in accordance with the standards provided in the state’s event wagering laws and regulations. On August 29, applicants who satisfy the requirements for a license will be informed of the outcome.
If there are more qualified candidates than there are licenses available, additional allocation applications will be considered in accordance with state regulations. To ensure a fair and thorough selection process, these extra applications will be taken into account before the final decisions are made.
20 event wagering licenses were initially permitted in Arizona under the original regulations, with 10 of those licenses going to Arizona tribes and the remaining 10 to Arizona sports franchises. Arizona already has 17 licenses for sports betting applications, thus the three additional licenses will fill the state’s maximum number of licenses.
The new license holders will join a vibrant sports betting sector that is still expanding significantly. The latest monthly data from the ADG shows that activity in the sector increased by 4.5% on a yearly basis. Arizona’s sports betting industry proved its resiliency and promise in April alone with a handle of $537.7 million, despite a lack of major athletic events in the state.
Arizona’s gambling industry is anticipating the new entrants to the event wagering market as the application process gets under way, encouraging more rivalry and innovation in the sports betting industry.