The Economic Effect of the Legalization of Sports Betting in the State of Arizona

Over the past few years, legislation legalizing sports betting in many states has been voted into effect. In the spring of 2021, Arizona legislators approved a bill that would legalize sports betting for anyone over the age of 21 in Arizona, and with Governor Doug Ducey signing the bill into law, September 9, 2021, marked the first day of legal sports betting in Arizona. Due to this new major avenue of business, sports betting became a very popular topic in both the news and social media, creating a buzz for new users in Arizona. This study will focus on the sports betting industry and the major companies involved in creating sports betting infrastructure in Arizona. Data will be collected and analyzed from multiple sources including company financial statements, news articles, and independent research focusing on the financial impact of Arizona sports bettors on the sports betting industry’s market profitability. It is expected that there will be a correlation between money gambled in Arizona and a rapid increase in profitability for sports betting companies. This study will provide an overview of the economic impact that sports betting had in Arizona in 2021, and look towards the future of betting in years to come.