The Arizona Department of Gaming (ADG) is launching a new opportunity for sporting event betting apps. Therefore, it is opening the doors to interested candidates from July 8th to 19th.
This application window is crucial for those looking to obtain a license to participate in the state‘s sports betting scene.
During this period, the ADG will be evaluating all applications received by 5pm local time on July 19th. It’s important to note that at least one license will be designated for Arizona tribes, while another will be reserved for local sports teams.
This movement aims to promote diverse participation in the sector, ensuring that different stakeholders have the opportunity to contribute and thrive.
With 17 licenses currently active in Arizona, eight linked to sports franchises and nine to tribes, the state seeks to promote an inclusive and transparent environment for the sports betting market.
Arizona Sports Betting Hits New Record of $759.8 Million
In March of this year, Arizona recorded a significant milestone in the sports betting scene with an impressive total of $759.8 million in bets.
This number represents a substantial increase of 17.8% compared to the same period last year. Furthermore, compared to the previous month, there was an increase of 19.2%, demonstrating continuous and robust growth in this sector.
The majority of these bets were placed online, totaling $752.4 million, while retail sportsbooks and limited event betting (LEW) operators contributed $5.3 million and $2.1 million, respectively.
Arizona Gaming Department highlighted that gross bets on events, before the impact of free bets, reached the $57.5 million mark.
After deducting the $19.5 million in free bets, adjusted revenue came in at $38 million, representing a 2.4% increase from the previous year and a notable 35.7% increase from February.
In terms of taxation, Arizona generated $3.7 million in taxes, while the players accumulated a total of $700.5 million in earnings.