The betting license was one of three that were available during the August application period. The license formerly belonged to Fubu Sportsbook, but the company closed its doors in October 2022, and Arizona offered that license via a solid application process to Bet365.
Bet365 is a well-known and trusted online gambling company booking bets in over 200 countries and jurisdictions. The bookmaker became famous in Europe for its wide betting market range, competitive odds, and solid customer service.
The ADG said that Bet365’s application was
“highly rated” and that the company “demonstrated a strong commitment to responsible gaming.”
Bet365 is supposed to launch its Arizona sportsbook in the next 180 days. The company will offer online betting platforms throughout the Grand Canyon state.
In addition, Bet365 will also offer a retail location on Ak-Chin tribal reservations at an as yet undisclosed location.
The announcement makes Bet365 the 18th sportsbook to operate in Arizona and hopes to compete with Arizona heavyweights FanDuel, DraftKings, BetMGM, and Caesars.
FanDuel and DraftKings have each handled over $1 billion in wagers since entering the market in September 2021.
Bet 365 LTD is a United Kingdom-based bookmaker since 2000 and is active in 90 countries worldwide. The company also operates in Colorado, New Jersey, Ohio, Virginia, and Iowa, with expansion plans in several US states and territories.
About the Ak-Chin Tribe
The Ak-Chin Tribe is a federally recognized Native American tribe with a community located roughly 37 miles south of Phoenix, Arizona. The name Ak-Chin is O’odham for “mouth of the wash” or “place where the wash loses itself in the sand or ground.”
Arizona Sports Betting Business Booming
Bet365 enters one of the top betting markets in the country. Since 2021, Arizona’s licensed sportsbooks accepted $11 billion in wagers from Arizona bettors. Gross sportsbook revenue is over $900 million, with $511.5 million in adjusted revenue.
This earned the Grand Canyon State $51 million in additional tax revenue from the 17 Arizona sportsbooks.
For more news on sports betting apps in Arizona, follow us here at Betting AZ.