Sporttrade announced Thursday that it had gone live for mobile sports betting in Arizona, the fourth state where the betting exchange platform is accepting wagers.
It was a fast turnaround to launch for Sporttrade, which is tethered to the Quechan Indian Tribe of the Fort Yuma Indian Reservation. The Arizona Department of Gaming awarded the license to the tribe Aug. 2, which was less than two months after the licensing process opened.
“Today we’re incredibly proud to announce we’ve launched in Arizona,” said Alex Kane, Sporttrade's founder and CEO. “There is impressive demand for our offering in Arizona because players want a premium option. Sporttrade is a perfect option for players looking to try the future of in-game wagering — incredible prices, near-instant bet acceptance, and the option to view prices in an intuitive probability-based odds format. Thank you to the Arizona Department of Gaming; thank you to our players, partners and investors. And most of all, I want to thank the Sporttrade family of employees.”
Sporttrade is also licensed in New Jersey, Colorado and Iowa. Plannatech, which was awarded the other license by the Arizona Department of Gaming via the San Carlos Apache Tribal Gaming Enterprise in August, has not offered any timeline for when it could go live in the Grand Canyon State.
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Arizona is a top 10 market for sports betting, and nearly 99% of its handle comes from mobile wagering. Sporttrade is entering at a time when other smaller, online outfits have made or will be departing the state.
Betfred was the latest to announce it was leaving Arizona, doing so effective Nov. 4. That comes after WynnBET (February), Unibet (June) and Betway (June) all did so earlier this year. Still, Arizona has generated $3.78 billion handle in the first six months of 2024 and surpassed neighboring Nevada in both April and May, a testament to the vast reach of mobile betting there.
It is difficult to estimate how much handle Sporttrade could generate since Iowa is the only state of the three where the company is operating that provides handle figures. Sporttrade has accepted $2.3 million worth of bets in its first four months in the Hawkeye State, reaching a peak of $806,600 in August, and has a hold just shy of 6% there, claiming $137,200 in revenue.
The New Jersey Division of Gaming Enforcement only provides revenue figures, and Sporttrade has totaled $242,400 there in 2024. It has had notable monthly revenue swings in the Garden State, finishing in the red in February, March and July after a strong start to the year with $581,900 in winnings. The Colorado Department of Revenue does not disclose handle or revenue figures for operators.
“The Quechan Tribe is excited to partner with Sporttrade and their innovations in the sports betting marketplace.” said Quechan President Jordan Joaquin. “Quechan’s statewide mobile sports betting partnership with Sporttrade introduces an exciting new platform of wagering and will provide new and expanded gaming opportunities throughout Arizona and which will provide economic benefits for our tribe.”
