PHOENIX — Tribes and professional sports franchises in Arizona are now able to apply for licenses to operate sports betting facilities.
The deadline to submit applications to the Arizona Department of Gaming is Aug. 9. The state legislature legalized in-person and online sports betting earlier this year and in the rules finalized by the ADG on July 26, legalized event wagering will start on Sept. 9 – the first day of the National Football League’s season.
The state’s law allows for 10 licenses to be given to professional sports teams and 10 licenses to be given to Native American tribes.
Becoming a licensee won’t be cheap. There is a $100,000 application fee and a $750,000 initial license fee, which is good for five years. Then there is a $150,000 renewal fee.
Because licenses are only given to sports teams and tribes, national sportsbook operators are setting up partnerships with these entities so they can get access to the Arizona market. So far eight different wagering operators have inked partnerships in Arizona, including the Phoenix Suns and Mercury and the Arizona Diamondbacks.
Read more of this story from the Phoenix Business Journal.