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.
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