Arizona sees Bet365 score license
Bet365, a UK-based online gambling company, has received approval to offer sports betting services in Arizona. This authorization comes through one of the three remaining licenses for online sports betting in the state.
On Tuesday, the Arizona Department of Gaming (ADG) announced that Bet365 has been granted an event wagering license, facilitated by a market access agreement with the Ak-Chin Indian Community, a federally recognized tribe among the 20 license holders in Arizona.
This marks Bet365's seventh state in which it has secured a license. The company is already operational in Ohio, Virginia, New Jersey, Iowa, and Colorado.
In addition to this development, Bet365 has initiated pre-registration in Kentucky with plans for a launch on September 28. This comes after the company received a temporary license to operate in the state the previous week.
Bet365 will replace Fubo Sportsbook, which previously operated in Arizona using Ak-Chin's license. Fubo Sportsbook ceased its sports betting operations in October 2022.
Bet365's Growth in the US
Bet365, led by Denise Coates, had been relatively quiet in the US sports betting market until recently. However, five years after the Supreme Court repealed the Professional and Amateur Sports Protection Act (PASPA), it seems that the company is making significant strides.
In Ohio, Bet365 reported the third-highest revenue in July 2023, surpassing both BetMGM and Caesars Sportsbook, which ranked third and fourth in terms of sportsbook revenue in the United States.
Unfilled Licenses in Arizona
Initially, the ADG was seeking three new operators to enter the Arizona market and began accepting new applications on June 30. This included one remaining tribal license and two licenses available for partnerships with Arizona sports teams.
Furthermore, there may soon be another opportunity for a license as Wynn Resorts' WynnBet recently ceased operations in eight states, including Arizona. WynnBet had originally obtained its license in 2021 through a partnership with the San Carlos Apache Tribal Gaming Enterprise.