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British sports betting powerhouse, bet365, continues its American expansion, debuting online sports wagering operations in Arizona. This move amplifies bet365’s presence across the United States, now spanning nine states. Partnering with the Ak-Chin Indian Community, bet365 solidifies its position as the 17th operator with market access in the Grand Canyon State.
Bet365’s foray into Arizona follows swiftly after seizing an opportunity created by the dissolution of the partnership between the Ak-Chin Indian Community and Fubo Sportsbook in October 2022. Awarded the coveted license by the Arizona Department of Gaming (ADG) in 2023, bet365 strategically positions itself in a thriving market poised for exponential growth.
Entering a vibrant Arizona sports betting arena, bet365 steps into a market that witnessed a staggering $713.5 million handle in November 2023, marking a 15.7% year-over-year increase. FanDuel emerges as the frontrunner in online sports wagering, commanding a $249.2 million mobile handle, closely trailed by DraftKings with a $229.4 million handle. Despite FanDuel’s dominance online, DraftKings leads in brick-and-mortar operations, boasting a $2.3 million retail handle compared to FanDuel’s $1.9 million.
Bet365 joins an illustrious lineup of sports betting operators in Arizona, including Bally’s, BetMGM, ESPN Bet, Caesars, and Betfred. Despite recent departures like WynnBet and TwinSpires, Arizona’s regulatory landscape remains dynamic. The ADG’s forthcoming acceptance of new event wagering license applications signals potential opportunities for additional operators. House Bill 2772, the state’s sports betting legislation, allows for up to 20 wagering licenses, ensuring a competitive and vibrant market environment.
Bet365’s strategic entry into the Arizona sports betting market underscores its commitment to expansion and innovation. As the landscape continues to evolve, bet365 positions itself as a formidable player in shaping the future of sports wagering in the United States.