Arizona to Allow More Mobile Betting Sites to Operate
Arizona sports betting should be live by football season, and the number of mobile betting providers has been doubled. On Friday, the Arizona Department of Gaming released its second draft of its sports betting rules.
Stakeholders will be given a chance to give feedback at a virtual input session on July 7. Every license will allow for two online skins if each operator is using the same hardware. This is a significant transition from the original rules, which commercial operators supported.
These changes were made based on feedback from the public. Therefore, they will likely stand following the upcoming input session.
Double the Mobile Betting Skins
The new Arizona sports betting rules will allow for a maximum of 20 licenses. Each permit includes a retail sports betting license and two digital platforms. Ten licenses have been designated for the professional sports teams/venues and tribal casinos in the state.
Some companies like FanDuel or Caesars could offer multiple sportsbooks. Caesars owns a variety of brands, including Harrah’s and William Hill. The rule states that both skins need to be using the same technology, so this is easy for FanDuel and Caesars.
Nevertheless, it will hurt some betting operators because they cannot launch multiple skins under one technological provider. The latest ruling in Arizona could cause some relationships to form.
Companies that share a technological provider like Kambi or IGT could join forces under the same permit according to the new rules.
Financial Information for Arizona Sports Betting
The latest draft of rules from the Arizona Department of Gaming set the tax rate at 8% for retail and 10% for mobile wagering. These numbers are low relative to other legal betting states in the country.
The licensing fee will be $750,000 initially. However, they may have to pay an additional $100,00 application fee and a $150,000 renewal fee. The operator is responsible for paying the fees under Arizona’s sports betting.
For example, in the Phoenix Suns and FanDuel partnership, FanDuel would be responsible for paying the licensing fees. There are also limited operator licenses that will be available.
There will be retail-only sports betting at horse tracks and off-track betting facilities. The initial fee for these permits will be $25,000. The application and annual renewal costs will be $5,000 each.
In addition to the tax standards, there were also some other changes made to the rules. Credit cards can now be used to fund mobile betting accounts. Operators must use official league data, which was requested by sports governing bodies.
WynnBET and Bally’s Secure Market Access
WynnBet and Bally’s secured mobile betting market access in Arizona on Friday. The mobile betting providers made massive headlines in the sports wagering industry.
WynnBET joined forces with the San Carlos Apache Tribe, and Bally’s partnered with the Phoenix Mercury of the WNBA. With the addition of WynnBET and Bally’s, six operators have secured market access in Arizona.
The other four are DraftKings (PGA), FanDuel (Suns), Kindred (Quechan Tribe), and Caesars (Diamondbacks). Penn National, which runs Barstool Sportsbook, will likely be next through a deal with NASCAR at Phoenix Raceway.
It’s also expected that BetMGM will partner with the Gila River Community.