Arizona Sports Betting: Out With Fubo, In With Who Though?

FuboTV ceased its sports betting operations, Fubo Sportsbook, in October 2022. The closure, which took place in Arizona, reduced the total number of online sportsbooks in the state from 18 to 17.

With up to 20 individual operators permitted in Arizona sports betting and Fubo no longer in the running, which operator(s) could potentially open a sportsbook in Arizona given the available spots?

Comprehending the Sports Betting Market in Arizona

The law on sports betting in Arizona permits the issue of up to 20 licenses for sports betting. This allows for partnerships between 10 sports franchises and 10 tribes with sportsbook operators. Presently, the sportsbooks included in this list are:

Sportsbook	Franchise Partner	Tribal Partner
FanDuel	Phoenix Suns	N/A
Caesars	Arizona Diamondbacks	N/A
DraftKings	PGA/TPC Scottsdale	N/A
Bally Bet	Phoenix Mercury	N/A
Barstool	NASCAR/Phoenix Raceway	N/A
BetMGM	Arizona Cardinals	Gila River Indian Community
Sahara Bets	Arizona Coyotes	N/A
BetRivers	Arizona Rattlers	N/A
WynnBET	N/A	San Carlos Apache Tribe
Unibet	N/A	Fort Yuma Quechan Indian Tribe
TwinSpires	N/A	Tonto Apache Tribe
Betfred	N/A	Fort McDowell Yavapai Nation
Desert Diamond	N/A	Tohono O’odham Nation
Hard Rock	N/A	Navajo Nation
Betway	N/A	San Juan Southern Paiute Tribe
Golden Nugget	N/A	Hualapai Tribe
SuperBook	N/A	Fort Mojave Indian Tribe

Originally, the Ak-Chin Indian Community was partnered with Fubo Sportsbook.

Many of the prominent, established sports betting brands are already active in Arizona. The question is not so much about who will secure the last license, but rather about “Who’s left?” Apparently, there are still a few potential contenders.

Who could secure the final license?

It’s hard to predict, but when considering operators with sportsbooks in other legal states, a few leading contenders appear who might be interested in gaining a share of the Arizona market.

Fanatics/PointsBet

In the early years of sports betting in Arizona, PointsBet established a partnership with the Yavapai-Apache Nation and Cliff Castle Casino Hotel. However, this cooperation did not result in the launch of a sportsbook. The Arizona Department of Gaming did not approve the Yavapai-Apache Nation’s application for a sports betting license, hampering PointsBet’s plans for an Arizona launch. The company explored alternative avenues for sports betting in AZ, but none were successful.

A few weeks ago, if you had asked us, we would have said PointsBet was the leading candidate for an Arizona license. However, recent developments have disrupted that forecast.

Fanatics, a company specializing in sports merchandise, has recently struck a deal to purchase PointsBet’s US assets for a sum of $150 million. However, since the announcement is still new, the intentions of Fanatics remain uncertain. Questions are being raised about whether the company will maintain the existing PointsBet sportsbooks in the US, or if it will close the PointsBet brand and reestablish it as Fanatics sportsbook. The situation is rife with uncertainties.

Among the uncertainties is whether Fanatics plans to pursue new market opportunities. Given that the company is worth nearly $30 billion, it seems obvious that it would seek new territories for its recently acquired sportsbook product. However, it remains unclear whether Fanatics will move quickly enough to secure a license in Arizona. I deem it improbable unless other operators delay their actions for a year or two.

Sports Illustrated

Sports Illustrated, a dominant force in sports writing within print media for many years, has successfully transitioned into the digital era. The Sports Illustrated sportsbook was first launched in Colorado in 2021, followed by launches in Virginia and Michigan in 2022.

Given Sports Illustrated’s endeavors to expand into established markets, Arizona appears to be a logical progression. Although the company hasn’t officially indicated or even suggested plans to initiate operations in the state, the idea isn’t entirely implausible.

Bet365

Bet365, a UK-based company, has expanded its operations to New Jersey, Colorado, Ohio, and Virginia. The company is also eyeing Pennsylvania. Initially, Bet365 had planned to partner with a company for sports betting in Massachusetts, but the deal did not materialize.

It appears that Bet365 is interested in any market, whether emerging or established. Arizona could potentially be a strong move for a European operator aiming to gain ground in the US market share competition.

Betr

Originally marketed as a “micro betting” platform, Betr has now broadened its scope to encompass core sports betting markets. The brand, which counts Jake Paul among its co-founders, has established a presence in Ohio and Massachusetts, as well as formed a partnership in Indiana.

The company, which claims to be disruptive, is expected to seek licenses in all legal states as it evolves from a start-up to a leading sports betting giant. It should be eyeing a state like Arizona which allows sports betting.

And More…

Numerous other brands, such as Tipico and PlayUp, are broadening their presence in the US sports betting market. Given the intense competition for a share of the US sports betting revenue, predicting the next entrant into the Arizona market is virtually impossible.

Will TwinSpires release another license?

Fubo’s departure created a significant gap in the market, raising the question of whether another might emerge. TwinSpires has announced its withdrawal from the sportsbook business to concentrate on its online horse racing enterprise. It has ceased sports betting in several states, but continues to operate in Arizona. It remains uncertain whether TwinSpires plans to discontinue sports betting altogether and maintain its racing platform in partnership with the Tonto Apache Tribe.

If TwinSpires completely exits the market, it would mean one more available license in the Grand Canyon State. Only time will reveal what happens next.