Bet365's Strategies & Prospects in Arizona's Betting Market

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00:00 (upbeat music)

00:02 - Okay, so Bet365 is our next topic

00:06 as I teased at the beginning of the segment.

00:09 A company that has just been huge

00:10 outside of the United States

00:12 with sports betting being legalized

00:13 outside of the United States for a long period of time.

00:16 Quietly, but effectively, Bet365

00:18 has jumped into different places,

00:20 including Indiana recently, now heading into Arizona.

00:24 So, Jim, in your opinion, what can Bet365 do

00:30 to capture users, to capture sports bets

00:33 like they do outside of the United States,

00:35 knowing that they're having to fight with,

00:39 you know, the FanDuels, the DraftKings, the MGMs?

00:42 - Yeah, I think what we're most likely going to see

00:47 is a decent-sized promotional spend.

00:51 And the unique thing about Arizona

00:53 is that the state regulators there

00:55 do share that promotional spending each month

00:59 for the operators.

01:01 So we'll get a good indication

01:03 of just how aggressive Bet365 wants to be in Arizona.

01:08 Like you mentioned, Craig, they launched it in Indiana

01:11 recently, and I mentioned with you last week

01:14 or the week before that Indiana

01:16 does not share promotional data.

01:18 So we won't be able to get exact eyes

01:23 on that promotional spend in Indiana,

01:26 much like we will in Arizona.

01:28 We've seen them spend rather heavily in other markets.

01:34 Ohio comes to mind.

01:37 And it might work out well for them right now, right?

01:40 They launched ahead of the Super Bowl,

01:43 which is a big customer acquisition time

01:47 on the sports betting calendar, as we know.

01:50 So perhaps an opportunity to offer more in bonus bets,

01:55 odds boost, free play, whatever you want to call it,

02:02 perhaps an opportunity for them

02:03 to offer something a bit unique or a little bit more

02:07 than some of the more established players

02:11 in that Arizona market.

02:14 So we'll see, again, like we touched on last week

02:17 when Indiana opened up, it'll be interesting

02:19 to see just how much they want to spend

02:22 and where they might go from here.

02:24 But they have made some decent strides

02:27 over the last year or so into the US,

02:31 backed by some pretty deep pockets

02:34 when it comes to that promotional spend.

02:36 So we'll see where that kind of takes them.

02:40 One other interesting note coming out of Arizona,

02:43 a bill was recently filed in the state legislature

02:46 that if it makes its way through

02:48 and gets approved and signed into law,

02:51 it would give Turf Paradise, the racetrack in Phoenix,

02:55 the opportunity to have an online sports betting license.

02:58 If you recall, towards the end of last year,

03:02 they were talking about closing that track permanently.

03:05 And then the owner got involved with the state legislature

03:10 and everybody kind of came to an arrangement

03:12 where they would have live racing in 2024,

03:15 which is happening currently.

03:17 So perhaps this might be a little bit of a lifeline

03:20 for Turf Paradise and Arizona horse racing.

03:25 Remains to be seen just how much progress this bill makes.

03:28 But one interesting additional note out of Arizona

03:32 that I thought was worth mentioning here.

03:36 (upbeat music)

03:38 (bells chiming)

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