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Sporttrade Awarded License for Sports Betting In Arizona

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Regulation

2024-08-02

Sporttrade Awarded License for Sports Betting In Arizona

The Arizona Department of Gaming announced Friday that it has awarded event wagering operator licenses to Sporttrade and Plannatech to conduct sports betting in the Grand Canyon State.

Arizona, which surpassed neighboring Nevada in handle for both April and May thanks to its large population and expansive mobile wagering marketplace, had two open licenses among the 10 allocated to tribal gaming operators. Sporttrade is the designee for the Quechan Indian Tribe of the Fort Yuma Indian Reservation, while Plannatech is the designee for the San Carlos Apache Tribal Gaming Enterprise.

Sporttrade is currently accepting wagers in New Jersey, Colorado, and Iowa, having launched in the Hawkeye State in May. Plannatech, first incorporated in the United Kingdom in 2015, is operating as the technology platform for Prime Sportsbook in New Jersey and Ohio, but the Arizona Department of Gaming did not mention Prime Sportsbook in its release.

The licensing process opened June 7 with the announcement of the application period, which was from July 8-19. It was the first time the state agency conducted the process in roughly a year, which last concluded with bet365 being awarded an event sports wagering operator license on Aug. 29. The England-based sportsbook launched in Arizona in February and has generated nearly $9.3 million in gross sports betting revenue in its first four months.

More here: https://t.co/8B7dwJOg22 pic.twitter.com/Tn9uHgIWRk

— Arizona Department of Gaming (@AzGaming) August 2, 2024

Handle and revenue figures for Sporttrade are somewhat scant as Colorado does not disclose operator figures in its monthly releases, and New Jersey provides only revenue totals. In its first two months in Iowa, Sporttrade generated $1.1 million in handle and posted a 9.7% hold in claiming close to $109,000.

The New Jersey Division of Gaming Enforcement began providing revenue figures by operator starting this year, and Sporttrade has accumulated $390,500 in the first six months of 2024. That includes combined losses totaling $601,800 in February and March.

The additions of Sporttrade and Plannatech, which should both launch before any other changes occur in the Arizona marketplace, would give Grand Canyon State bettors 18 mobile options. The state has reported more than $3.3 billion worth of accepted wagers the first five months of 2024, 99% of which originated via sports betting apps.

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