How Recent Betting Legislation is changing Arizona’s Economy

The legalization of sports betting in Arizona has caused a big boom in the Grand Canyon State. Residents took to the new activity with passion and have put in an astounding amount of bets. As a result, the state itself has seen impressive revenue. This effect has been even more pronounced with the Cardinals recent run in the playoffs. With so much attention paid to Arizona’s sports betting economy, companies are already talking about further investment. Arizona is poised to become a true gambling giant.

Arizona was actually one of more recent states to enact its legal sports betting measures. The companies that run sports betting services were allowed to open their apps and betting kiosks in September 2021. Like many other states, the action seemed time to start for the 2021 NFL season kickoff. Arizona fans are passionate about the Cardinals and the amount of money they’ve put into betting reflects this. Arizona sports betting has really taken off thanks to its football fandom.

What’s really interesting about Arizona’s sports betting performance is that it puts the state on a level with much bigger markets. Arizona makes millions a month in revenue from sports betting alone. These numbers have rivaled and sometimes even surpassed those of Pennsylvania and New Jersey. That’s New Jersey as in the home of Atlantic City, one of the country’s most famous places to gamble. Imagine Arizona matching Atlantic City, Vegas, or NYC in anything else! And this is from an industry that just sprung up last year.

This sudden surge of profit has captured certain companies’ eyes as well. BetMGM is already planning to put sportsbook stations inside Arizona stadiums, something it is also prioritizing in NYC’s Madison Square Garden. Again, we see Arizona given the same level of investment as NYC. This is a big boon for the local economy, one that will continue to grow a popular industry and create jobs.
A major factor in all this success is convenience. Arizona football fans clearly wanted to wager on Cardinals games, but lacked the legal outlet to do so. Not just that, but gambling in general used to be limited to casinos. That was great for those who lived near Scottsdale or Phoenix, but not so much for those further from the cities. Arizona’s legalization of online gambling, however, allows people to place bets from their computer or with a handy smartphone app. This simple act extended the ability to gamble to people all over the state. This increase in users has led to a rocketing interest in the business and a massive increase in revenue.

The other benefit of legal sports betting is that it gets people more invested. People have been betting on sports for years, but in cash-based local wagers with friends or coworkers. Now that everyone in Arizona can do it through apps, sports betting pots are getting a lot bigger. The promise of bigger prizes gets some to place bigger bets or participate on a more regular basis.

Fantasy sports is another growing industry. Fans who had interest before can now find like minded people to play with. And just like with sports betting, the more people that participate, the bigger the winnings. The bigger the winnings, the more enticing it becomes to new users. Fantasy sports is an industry that practically feeds itself. And as players get more into their fantasy teams, they are likely to get more invested in real life. This could lead to more jersey and game ticket sales, putting more money in Arizona’s economy. The recent buzz around sports betting in Arizona shows any state with passionate sports fans can become a powerhouse in the business.