Arizona Release Rules and Regulations for Sports Betting
The great state of Arizona announced that everything is still in place for legal sports betting to officially launch on Thursday, September 9, 2021. Avid sports bettors from Arizona are hopeful that the state can make that deadline as it is the opening night of the NFL season. The Arizona Department of Gaming released its official rules for both sports betting and daily fantasy sports last week.
People that had questions, comments, or concerns about the betting rules had until midnight on June 21 to submit them. State officials said that the rules could be tweaked based on comments from the public and investors. Four hot topics are up for debate when reviewing the state of Arizona’s rules:
- How many sports betting licenses will the state issue?
- How many online betting partners can operators have? (also known as “Skins”)
- Licensing Fees
- Tax rate on sports betting receipts
Two Politicians Play Key Role for Arizona Sports Betting
Arizona State Representative Jeff Weninger sponsored a key bill that was later approved by The U.S. Department of the Interior on May 24. Weninger has been instrumental in bringing legal sports gambling to Arizona. The 51-year old has been in favor of legal sports betting since he took office in 2015.
Governor Doug Ducey sped things along back on April 15 by signing the new compact and associated legislation. Both Weninger and Ducey have played important roles in trying to get sports betting available for Arizona residents by the goal date of September 9. The overall process has progressed at a smooth, quick pace so far and Arizona sports fans hope that will continue to be the case.
Arizona Pro Sports Teams to Offer Wagering at Their Venues
It’s not just the reservation casinos that will look to profit from sports betting in Arizona. The Arizona Diamondbacks already have a deal in place with Caesars Entertainment to set up a retail sportsbook right next to Chase Field. The Phoenix Suns struck a similar deal with the FanDuel SportsBook to offer a sportsbook for NBA fans to enjoy.
The PGA Tour also plans to get in on the Arizona sports betting action by partnering with DraftKings. The two plan to open a sportsbook in TPC Scottsdale, home of the Waste Management Phoenix Open. It would be the first PGA Tour site to offer golf fans a sportsbook, and it’s scheduled to be up and running by 2023.
How many betting licenses does Arizona plan to issue?
The current framework allows Arizona to issue 20 sports betting licenses. The gaming tribes and pro sports organizations will be granted 10 of those licenses. A license allows businesses to operate both retail and mobile sportsbooks.
Tribal casinos that own more than one location can operate all of them under one license. Since Arizona is home to six pro sports teams and a number of major college sports programs, a lot of revenue should be generated from sports betting for the state. Early estimates show that each online sportsbook operator could expect revenue of around $154 million each year.