After Arizona’s Gov. Duck Ducey signed the bill to legalize sports betting on April 15, multiple companies and teams jumped on board and wanted a piece of the action.
It’s estimated that sports betting makes up between 30% to 40% of total gambling revenue worldwide, so the attention it drew is not surprising.
MLB’s Diamondbacks and Caesar’s Entertainment, known for its casinos in Las Vegas and Reno, announced a partnership that would combine in-person sportsbook, bar, and mobile betting. The deal is signed for ten years.
Caesar’s Entertainment will operate the sportsbook and bar, located right next to Chase Field in downtown Phoenix. It will be open year-round, so fans can place bets on sporting events even when the season is over.
With 70% of gambling revenue in 2020 coming from mobile gambling , and with online gambling revenue being forecasted to increase by $26.3 billion by 2023, Caesar’s will also operate mobile betting in the region and create an app later this year. People can bet via the app from anywhere in the state and earn rewards, such as VIP experiences at Chase Field.
The company will have exclusive rights to Diamondbacks’ sports betting and fantasy sports. The operator also reached a multi-year deal with MLB to become an Authorized Gaming Operator for the league.
There have been reports of Diamondbacks looking to relocate. However, considering this ten-year deal and the stadium sales tax bill that passed recently, the team is going nowhere.
Sports betting is not going to start right away, though. State lawmakers estimate that it can begin around late August, so hopefully, baseball fans can bet on the playoffs.
