Add it to the growing list of betting partnerships in the state; BetMGM Arizona has partnered with the Arizona Cardinals.
A total of 10 sponsorships between various Native American tribes, professional sports teams and sportsbook operators have been announced in the runup to legalized Arizona sports betting.
Four professional sports teams, the Arizona Cardinals (BetMGM/Gila River Community), Arizona Diamondbacks (Caesars), Phoenix Mercury (Bally’s), and Phoenix Suns (FanDuel) have announced partnerships, to date.
Additionally, deals between the PGA Tour/TPC Scottsdale and DraftKings Arizona as well as Barstool Sportsbook and Phoenix International Raceway have been announced.
The 15-year deal struck between the Mercury and Bally’s on July 1 is the first gaming access contract with a women’s professional sports team. The deal is reported to be worth $66 million in total, according to Deadspin.
Arizona To Start Before Football Season
Sports betting is on track to launch Sept. 9, when Arizona NFL betting begins. The Cardinals open the season Sept. 12 at the Tennessee Titans.
Since early June, the Arizona Department of Gaming has been targeting the Sept. 9 start date and hasn’t wavered from it during the process. Aug. 9 is the application deadline for operators. The ADG could announce who will receive licenses on Aug. 16.
The launch of legal Arizona sports betting apps in Arizona on Sept. 9 is truly the dawning of a new era for Arizona’s economy, according to Dennis Hoffman, professor of economics at Arizona State University’s W.P. Carey School of Business, generating upwards of $200 million in business activity and more than $30 million in tax dollars.
Hoffman’s projections line up with the Arizona Department of Gaming, which expects $34.2 million in annual General Fund revenue from legalized sports betting by the 2024 fiscal year.
“We’re in a world of guesses, at this point,” Hoffman said. “… The question is, will [sports betting] generate any residual or multiplier effects, economically? I would make the case that if the alternative is spending that money on an offshore account, then it’s going to be a net positive to keep that money (in Arizona).
“So, you’ve got to keep in mind that all this money might have been leaking out to other states or countries, and now we’re collecting taxes on it and it’s staying in Arizona. So, all that is a good thing, economically speaking.”
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As of Monday morning, the Arizona Coyotes of the National Hockey League and Phoenix Rising of the United Soccer League Championship as the lone professional teams without sponsorships in the Valley.
Other Sports Betting Partnerships in Arizona
Aside from professional sports team partnerships, a host of sportsbook deals have been announced in Arizona, between a variety of operators and tribes in the state.
The deal between BetMGM, the Gila River Community and the Arizona Cardinals, announced this week, is the latest deal in the state.