Arizona Sports Betting Bill goes to the governor after clearing the Senate hurdle
Legal sports betting is just a step away Arizona.
The Arizona Senate passed HB 2772, a bill identical to SB 1797, by a 23-6 Poll. The draft law contains an emergency clause which required a two-thirds vote for its enactment.
Now the AZ sports betting legislation is closing Governor Doug DuceyDesk next. Ducey is likely to sign the bill as it will help sign off a new tribal gaming contract. The bill legalizes sports betting, daily fantasy sports, as well as keno and mobile draw.
Sponsor of the Senate bill It is. TJ Shope predicted the quick action last week. A traffic jam in one senate The committee and a historic horse racing item “Poison Pill” maintained sports betting legislation but was released last week. HB 2772, has been approved by the House 4th of March.
“It would enable the governor to sign immediately, maybe on Tuesday,” Shope told LSR on Thursday. “You’d have to get approval from the Bureau of Indian Affairs, but that’s almost a formality.”
The Emergency Act was implemented in the hope of getting bets off the ground NFL betting Season.
How Arizona Sports Betting Came Here
New contracts have been in the works between Arizona and its game tribes for several years. The current compact expire in 2022.
Sports betting is a key component of the new compact to modernize the game and generate new sources of income. The Senate Fiscal Note projects that the bill will be generated $ 34.2 million in annual general fund income of 2024.
Ducey even mentioned the legalization of AZ sports betting during his speech on the state earlier this year.
Ducey’s General Counsel Care years The committee’s testimony stated that the sports betting bills were the culmination of work to expand the contracts.
Two different trips
HB 2772 drove through the house. The house bill passed the House Commerce Committee, 9-1and cleared the whole house 48-12.
Sports betting found different feelings in the Senate. SB 1797 passed the Senate Trade Committee, 6-3before it was merged with a historic horse racing bill squeezed out of the Senate Budget Committee, 5-4.
Both sports betting bills remained unaffected by the Senate for more than a month if there were any questions about the HHR bill. The HHR bill was removed from the sports betting bill last week.
At the third reading, the Senate bill was replaced by the House bill to be sent to the governor.
What sports betting might look like in Arizona
The bill suggests 20th Licenses. ten of these go to tribal owners and the others 10 Go to Arizona’s professional sports teams.
During the legislative process, representatives of the Cardinals of Arizona, Arizona Diamondbacks, Phoenix Coyotes, Phoenix Raceway and PGA tour All spoke in the name of legislation.
The licenses include retail and cellular operations. A tribe with multiple venues could operate retail sports betting under one license.
Tribal leaders also testified on behalf of the bill during the committee hearings.
It also legalizes daily fantasy sports in the state, one of the few states that is not currently legal to do so.
Which operators are likely to come to Arizona?
Lobbiest Kelsey Lundy testified on behalf of BetMGM, DraftKings and FanDuel during the hearings. Along with these three, most of the large operators are likely to be market participants with 20 licensed partners available.
Phoenix is a major sports market with teams in all four major sports leagues and a growing population.
The legislative fiscal note projects $ 154.4 million in annual taxable sports betting revenue once the market is mature. The tax return uses a 8th% Minimum tax to project the potential revenue of the state. The state gambling regulators will set the tariff, license fees, and other details at a later date.