Bet365 Expands into Arizona, Targeting US Sports Betting Market

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00:00 (upbeat music)

00:03 - Let's get to the latest in sports betting.

00:05 Arizona's had legalized sports betting

00:07 for those people who may not be familiar.

00:09 It's one of the states that we've talked about

00:10 for some time.

00:12 It seems like they've had some moderate success

00:14 with sports betting initially, a good pot now,

00:17 probably back to where you would assume things are,

00:20 and a new license given out to a company

00:22 that I think is more prominent around the world

00:24 than it is in the United States.

00:25 But as we've talked about,

00:27 outside of FanDuel and DraftKings,

00:29 like a really third place is up for the taking.

00:31 Do you think this company could be one of them?

00:34 - I certainly do think Bet365 could be in the running

00:38 for really, honestly, anything it wants to do

00:41 in US sports betting over the years.

00:44 They are certainly, they certainly have the money for it.

00:46 They certainly have the talent for it.

00:48 And yeah, now they have a new market in Arizona,

00:51 and this is just one of the many states

00:53 that they've been adding through this year.

00:55 Bet365 was so quiet before.

00:58 They were only live in New Jersey and Colorado

01:01 at the beginning of this year.

01:02 Now they're finally starting to step it up,

01:05 expand a little bit.

01:06 They'll be in Kentucky when it opens.

01:08 They're joining Arizona.

01:09 They'll be in Ohio.

01:11 So we're finally starting to see a push from Bet365.

01:15 But interesting out of this Arizona story, Craig,

01:18 there are actually three licenses available.

01:21 Two for professional sports teams,

01:23 and then this third one that Bet365 grabbed

01:26 through the Ak-Chin Indian community.

01:29 Now the Ak-Chin actually were involved

01:31 in sports betting before.

01:32 You may remember the name Fubo Sportsbook.

01:36 They, of course, shuttered their operations.

01:38 They just decided that they couldn't keep up with the cost,

01:41 couldn't justify the cost, and so they had shut down.

01:44 So now Bet365 comes in and takes that spot.

01:47 And like you said, Arizona's been

01:49 a really interesting market.

01:52 It does pretty well in terms of handle

01:54 and competing with some of the big boy states,

01:56 but they also have a really interesting local brand

02:00 in the mix at the top in Arizona as well.

02:02 So different market for sure that we see from other states

02:07 to allow that local brand to really be thriving.

02:11 And yeah, you have to wonder where Bet365

02:13 is going to slot in.

02:15 They've been so deliberate up until this point

02:19 that I can't see them necessarily just throwing

02:21 any jurisdiction away, right?

02:24 They must have a plan for all of these new states

02:26 they're going into for football season.

02:28 And so I think folks in Arizona should be prepared

02:33 to see pretty decent size push for Bet365

02:37 once they are up and running.

02:39 Another license probably will be available

02:43 in Arizona as well, Craig, that's with Winbet.

02:46 Winbet said that they were winding up a lot of their states

02:49 and they're only keeping key states to them

02:53 that work for their land-based casino database, honestly.

02:57 And Arizona will not be one of those states.

03:00 So there should again be three licenses available in Arizona

03:04 and we'll have to wait to see who snatches that up.

03:07 The Winbet license is with the San Carlos Apache tribe.

03:12 So it's not waiting for another professional sports team.

03:17 So that could happen pretty quickly, I don't know.

03:21 The regulators said that they may open

03:23 another application period for the remaining licenses.

03:26 So kind of playing it by ear there.

03:28 But yeah, I mean, just think about Bet365,

03:33 it's pushing in Virginia, Iowa, and honestly,

03:37 New Jersey and Colorado too, yeah,

03:39 those were their first couple of states

03:42 that they were kind of lingering in.

03:43 But now that their US operations are really waking up,

03:47 I would expect to see a big push from there too.

03:50 We actually had a great story go up this morning

03:52 from Sam McQuillan that really gets into a deep dive

03:55 about Bet365 and what they're doing

03:58 and what their market share looks like

04:00 in the states that we have the information on

04:02 and how that can, what if that was extrapolated

04:06 to nationwide?

04:07 So anybody interested in Bet365,

04:09 I would definitely say head over to legalsportsreport.com,

04:12 check that story out, it's a great one by Sam.

04:15 (upbeat music)

04:18 [MUSIC]

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