bet365 Expands Presence in the United States with Arizona Launch
LISTEN TO THIS ARTICLE:bet365 has launched its online sports betting service in Arizona, further strengthening its presence in the United States gambling market.
bet365 was able to gain market access to the Grand Canyon State via its partnership with the Ak-Chin Indian Community. The operator seized an opportunity that arose from the terminated partnership between the Ak-Chin Indian Community and Fubo Sportsbook, which ceased operations in October 2022.
In 2023, bet365 was granted a betting license by the Arizona Department of Gaming (ADG). With the development, bet365 is now live in nine states across the US, including Colorado, Iowa, Kentucky, New Jersey, Virginia, Ohio, Louisiana, and Indiana. The operator added Indiana to its list last week through an access agreement with French Lick Casino.
A Highly Competitive Market
bet365’s presence in Arizona means bettors in the state have a fresh sports betting choice in time for the Super Bowl. Arizona is already home to 16 operators, including big names like FanDuel, DraftKings, BetMGM, Bally’s, Caesars, and others.
In its November betting report, the state recorded a total sports betting handle of $713.6 million, 15.7% higher year-on-year. However, despite the handle, operators generated an adjusted gross revenue of $20.5 million.
DraftKings led the market with a revenue of $9.7 million off a $229.4 million handle. FanDuel, though had the highest handle at $249.3 million, came second with a revenue of $7.7 million.
With the Arizona Department of Gaming (ADG) recently announcing that it will start accepting new applications for event wagering licenses, bet365 faces the challenge of competing with established operators and new contenders in the market. It is worth noting that the state has witnessed the exit of several sportsbooks since its launch, including WynnBet and Twinspires.
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