The sports betting agreement between Arizona Governor Doug Ducey and tribal leaders in the state of Arizona has been finalized thanks to the approval of the U.S. Department of Interior.
Arizona sports betting will not only bring in extra tax revenue to the state, but it will also create new jobs and draw in tourists.
What Does This Mean For Sports Betting In Arizona?
The approval needed between Governor Ducey and tribal leaders will now pave the way for sports betting to launch before the NFL 2021-2022 season.
Even though the tribal gaming compact legislation is officially in effect, the release date of when sports betting is officially launched in the state is still currently unknown.
How much revenue will sports betting bring to Arizona? The answer is still unknown, but with the bill outlining a minimum tax rate of 8%, it is projected that Arizona sports betting could bring in $20,160,000 in yearly tax revenue.
It all started on April 15, when Governor Ducey along with tribal leaders and lawmakers from the state signed House Bill 2772 and an amended tribal-state gaming compact.
The deal was a long time coming, taking more than five years to actually negotiate the compact amendment and bill. All of this is to protect the future of the state and tribes while offering regulated and limited gaming in Arizona, including sports betting.
With the Super Bowl expected to come to Arizona in 2023, the timing of sports betting in Arizona couldn’t be any better.
Arizona Sports Betting Facts
As we all patiently wait for the official launch date of sports betting in Arizona, some tribal casinos, as well as sports franchises and venues, have already got their foot in the door by partnering with top sportsbooks. This allows for sports betting to take place in the state of Arizona through a sports betting app as well as in-person.
With the bill allowing 20 licenses, 10 to tribal casinos and 10 to sports franchises and venues in Arizona, there has already been some progress across the state.
TPC Scottsdale, home to the PGA’s Waste Management Tour, has partnered with popular sportsbook DraftKings. Their competitor, FanDuel, partnered with Phoenix Suns Arena, the home of the Phoenix Suns. BetMGM has jumped on board as well, signing a partnership with Gila Rivers Hotels and Casinos. Caesar’s sportsbook will be at Harrah’s Ak-Chin Hotel & Casino along with a downtown venue, Chase Field, where the Arizona Diamondbacks play.
This means that bonus offers from these sportsbooks will be coming to Arizona soon. It is all just a matter of time before sports betting in Arizona will be in full swing.
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