bet365 approved as legal sports betting operator in Arizona
Sports betting has quickly wrapped its talons across the United States — or at least the states that have legalized the activity within their borders. At this time, sports betting is allowed in 36 U.S. territories. 35 states and Washington D.C. allow either in-person wagers, online and mobile bets, or both. All of these legalized areas have seen sports betting succeed in their jurisdiction, but some have been more profitable than others, and markets that have become mature can determine a reasonably expected revenue month to month based on recent trends. One of the more established states in sports betting is Arizona.
How has sports betting fared in Arizona?
In November 2022, online sportsbooks took in over $611 million in bets. With that strong penultimate month, the state totaled over $7 billion through that year, up to that point. With that level of profitability, it's no surprise why so many different sportsbooks have staked their claim in Arizona.
At that time, there were 17 different sportsbooks accepting wagers online and offering their services to the citizens of Arizona. November 2022 had DraftKings coming out on top, having accrued over $200 million in bets. FanDuel wasn't too far behind, either, drawing in over $193 million in wagers.
Between DraftKings and FanDuel, the two sportsbooks handle the majority of all sports betting in Arizona, but the 15 other sportsbooks are rapidly growing in popularity, as well. BetMGM took in over $93 million in bets that month, Caesars came in at over $61 million, and Barstool is steadily establishing itself as a major sportsbook in the United States, and Arizona is no exception, as they raked in over $20 million in wagers.
When will bet365 launch?
While there are plenty of bets to go around in the state and plenty of opportunity for all the sportsbooks with their stake in Arizona, there'll be a new competitor joining the fray soon. On Tuesday, August 29, the state approved a new operator to take on wagers: bet365. Bet365 has already established itself in six other states: New Jersey, Colorado, Virginia, Ohio, Kentucky, and Iowa. With this new decision, bet365 will have launched its services in Arizona, making it seven states under its jurisdiction in the country, within 180 days from Tuesday, August 29.
There's a strong possibility that bet365 could join the sports betting landscape in the state sooner than that 180-day benchmark, which would have it officially launching on Saturday, February 24, 2024. As Arizona is a relatively mature market, there is already plenty of foundation and infrastructure laid out in terms of sports betting. With Arizona becoming bet365's seventh state of operation, the sportsbook has already successfully grown its brand in six other territories, with plenty of experience to ensure that this next venture will go as smoothly as possible. Importantly, you can only make use of the Bet365 Promo code in Arizona if you have not claimed an account with them in the past.
Early expectations for bet365 in Arizona
With bet365 joining the fray, that makes a total of 18 different sportsbooks taking wagers in Arizona. It's been proven that 17 different operators can succeed within the state, so there shouldn't be any reason why bet365 can't make it as the 18th. Arizona legalized sports betting back in April 2021, with operators taking their first wagers in September later that year.
As a relatively new market, Arizona and its current sportsbooks should continue to see steady rapid growth in terms of both handle and revenue. Bet365 might not turn handsome profits for the first few months, as they'll likely come into the fold with plenty of promotions to attract new customers.
If it can become fully operational soon, bet365 could have a reliable customer base by March Madness 2024, which should present an opportunity for a huge boom in profit, as March is consistently one of the best months for sports betting out of the year.
More to Read: