It’s been a busy start to the year for Arizona sports betting operator Fubo Sportsbook, which launched in the state in late 2021.
The company, which was the 11th of 18 mobile sports betting operators to launch in Arizona, has taken in $2.15 million in handle over its first three-plus months of operation.
Fubo Sportsbook Arizona, which is partnered with the Ak-Chin Indian Community, has grandiose plans for the year ahead.
President Scott Butera chatted with BetArizona.com about Fubo Sportsbook’s growth in handle, from $453,231.94 in January to more than $895,000 in February, and a host of other topics regarding the state’s marketplace.
Below is a transcript of that conversation, edited for brevity and clarity.
Arizona Sports Betting Handle by Operator
Fubo Doesn’t See Other Sportsbooks as Competition
BetArizona.com: A lot has been made of how the Big 3 — FanDuel, DraftKings and BetMGM Arizona — dominate in most states. How will Fubo Sportsbook look to pick up market share in Arizona and other states?
Scott Butera: Fubo Sportsbook is a key growth component of FuboTV, the leading sports-first live TV streaming platform, and is not a competitor to traditional online sports betting books. Our primary strategy is to provide sports fans with immersive experiences, which includes integrating wagering into their live TV streaming experience. While other major sportsbooks have ties with media companies through external partnerships, Fubo is the first to build an integrated experience from the ground up — and within a single ecosystem. We expect that our unified experience and built-in streaming audience, which recently surpassed 1M paid subscribers in 2021, will create a flywheel — with the TV platform driving customers to the sportsbook while the sportsbook drives deeper engagement and ad monetization for TV.
In fact, since the launch of our market-defining sportsbook in Arizona, we have seen encouraging signs of Fubo Sportsbook’s value to our business’ overall mission of creating more engaging and interactive sports entertainment experiences with crossover users (TV to Sportsbook customers), on average, placing a greater number of bets while having higher retention rates on the sportsbook than sportsbook-only players. Over time, we believe this will expand ARPU and drive strong unit economics as users in our ecosystem engage more fully across the platform.
BetArizona.com: When starting in a new state, what’s the biggest thing a sportsbook operator can do to attract new customers?
Butera: Having an established customer base, with a strong propensity to wager, is a big advantage. FuboTV’s built-in video audience in Arizona will allow us to efficiently acquire users with a limited amount of marketing spend. We have only scratched the surface of integrating our sportsbook and live TV streaming experience and expect to build upon these trends as we continue to roll out new features that further integrate wagering into the FuboTV platform, pending regulatory approvals.
Fubo Sportsbook Handle by Month in Arizona
National Sports Betting Still in Early Stages
BetArizona.com: Do you see the Arizona betting apps market remaining one of the top sports betting states? How would California’s legalization of sports betting affect that?
Butera: We’re still in the early stages of sports betting legalization in the U.S. As sports betting becomes increasingly popular amongst sports enthusiasts across the nation, I believe we will continue to see record-breaking numbers across the board, including in Arizona. This has been evidenced by the resilience of the New Jersey market in the wake of sports betting legalization in surrounding states like Pennsylvania and New York.
Sports betting is very popular among Arizonans, and the legalization of the activity is certainly favorable among those who bet in the state. Arizona sports fans have been sports betting enthusiasts well before its legalization — 3-in-4 revealed they traveled to Colorado or Nevada to place a legal bet. And now that it is legalized, Arizonans are not ceasing to demonstrate investment and passion.
BetArizona.com: What’s special about the Arizona sports betting marketplace in your opinion?
Butera: Arizona boasts a deeply rooted history and culture, spanning both professional teams as well as a strong collegiate presence. Its rich tradition of sports and prosperous tribal casino industry has helped establish the state’s standout sports betting market. Further, its unique history paired with the potential partnership opportunities with sports teams and tribes have made Arizona a desirable market for Fubo Sportsbook, and other sports betting companies.
BetArizona.com: What would you like to tell readers about Fubo’s opening stretch in Arizona?
Butera: We launched our first iteration of Fubo Sportsbook in Arizona in December 2021 in partnership with the Ak-Chin Indian Community. Fubo Sportsbook is the first mobile sportsbook to integrate with an owned-and-operated live TV streaming platform.
Since the launch of our market-defining sportsbook in the state, we’ve seen encouraging early signs of the flywheel effect of the integration between our sportsbook and video experience. With this in mind, we will continue to focus on bringing the watching and wagering experiences together, developing a holistic sports entertainment ecosystem for sports enthusiasts and casual bettors alike.
Our presence in Arizona represents the early innings of a massive opportunity as we intend to continue iterating the experience and launching additional features that will further integrate wagering into the FuboTV platform, pending regulatory approvals.