ARIZONA LATEST STATE TO LEGALISE SPORTS BETTING

The governor of Arizona has signed a bill legalising sports betting in the US state, after legislation passed both the Senate and House with sizeable majorities. 

In addition to giving the green light for sports betting, with licenses set to be issued to 10 tribes and 10 professional sports teams, the legislation also allows for fantasy sports betting and keno, and opens the path for an expansion of casino development. 

Fraternal organisations, veteran’s groups, and horse race tracks will also be permitted to offer fantasy betting and those with state lottery licenses, along with off-track betting sites with lottery licenses, will be able to offer keno too. 

Sportsbooks will be taxed at a rate of 8% on all revenue, minus payouts to gamblers, generating an estimated $34M in annual revenue for the state. 

Betting on collegiate sports will be allowed, though proposition bets (those on anything other than final outcome or points spread) will be prohibited. 

Up to four new casinos are also expected to be authorised in the Phoenix metro area, with developments expected on Tohono O’Odham Nation and Gila River Indian Community land. Elsewhere in the state, up to 11 new casinos will be authorised, though only four will be allowed in the first decade. 

Commenting on the development, Governor Ducey said: “There’s no question that Arizona has grown and changed significantly since the last major compact update in 2003. It’s important that we account for these changes in our policies and our compacts.”

Gov. Stephen Roe Lewis of the Gila River Indian Community added: “We argued before we agreed. And we fought before we found our middle ground. But here we are today, celebrating the most unique unicorn in political life: a genuine win for us all.”

AYO.NEWS says:

With a little over 7.2M residents, Arizona might not be the most populous state, but its many tribal casinos have long drawn both local and out of state visitors, including those from neighbouring California, so there’s plenty of potential for growth now sports betting can be added to the state’s offering.