Arizona could reach $3bn in sports betting stakes

Preparing to launch its licensed sports betting market, Arizona predicts stakes of up to $3bn a year .

US.- Arizona looks set to have one of the biggest markets for sports betting, forecasting more than $3bn in annual wagers and $200m in gross gaming revenue. With a hypothetical 8 per cent tax rate, the state projects $12.3m in annual tax revenue. 

Sports betting was legalised in the state by Governor Doug Ducey last week, making Arizona one of 26 US states that have regulated online sports betting. Only 22 of those states have officially launched their markets to date.

A vibrant sports offering, including professional teams in all four major North American sports leagues, four NCAA Division I college athletic programs, NASCAR races, and multiple PGA TOUR events, sets the state up for strong prospects for sports betting.

The state has licensed the Phoenix Raceway, TPC Scottsdale, and stadiums and arenas with over 10,000 seats as sports betting licensees.