Following the passage of House Bill 2772 this week, Arizona sports enthusiasts will be able to make legal sports bets before the end of the year. As a result, the state will be able to accommodate up to 20 mobile betting providers in addition to in-stadium sportsbooks. Regular fantasy games are also covered by the regulations.
Governor Doug Ducey, a strong supporter of the measure, is expected to sign it into law this week, allowing Arizona gambling authorities to begin licencing sportsbooks in preparation for the 2021 football season.
20 available licenses
The 20 licences up for grabs will be divided evenly between tribal gaming owners and major sports leagues, with internet gaming companies partnering with them. Though Arizona is home to approximately 24 native tribes, not everyone will want to participate in legal sports betting.
The Joint Legislative Budget Committee is proposing a $150,000 annual licencing fee for sportsbook owners, including a 8 percent tax on sales. Based on the returns provided by other nations, the Committee estimates that it will raise approximately $34 million in annual revenue.
New rules and regulation
Arizona’s Department of Gaming will be forced to accept new rules and regulations, as well as individual sportsbook licences, following Ducey’s planned signature this week.
In response to this week’s events, ActionNetwork.com reported: “Arizona’s young, growing population and teams in America’s most popular pro sports leagues should spark interest from all top sportsbook brands.”
Leading brands such as PointsBet, Caesars/William Hill, Barstool Sportsbook, and others are expected to apply for licences, according to the study, which concluded: “The legislative back-and-forth may have taken longer than Arizona sports bettors would have hoped for, but the state’s elected officials have now passed a major bill to permit online sports wagering in one of the more dynamic, growing US markets.”