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Arizona Sports Betting Handle Reaches $1B

Arizona Sports Betting

Arizona sports betting has taken a firm foothold in the Copper State. There were many questions as to why the Arizona Department of Gaming took longer than expected to release its sports handle for September and October, but the doubt can be put to rest.

Arizona sports betting handle numbers for November

Since sportsbooks launched in the state on September 9th, Arizona has become the fastest state to reach $1 billion in bets in just three months. To close out 2021, sportsbook operators have brought in more than $1.2 billion.

Sportsbooks brought in $291.2 million in wagers in September and $486.1 million in October. November’s handle witnessed a slight decline as the handle was $466.7 million, which signifies a four percent decrease. The Arizona sports betting figures for November most likely declined as October had an extra weekend of NFL and college football action in the schedule.

ADG Director Ted Vogt stated in a press release, “Revenue from these new games is strong and will only get stronger as the market develops.”

Mobile sports betting made up a huge percentage of the handle as it made up $459.3 million. This notes a slight decline of 4.2 percent from October’s $479.3 million.

Retail sports betting taxes for operators are eight percent and 10 percent for mobile. Operators also pay 0.25 percent of total wagers in a federal excise tax. Sportsbooks combined to generate $51.4 million in gross revenue for November. The adjusted gross revenue was $31.9 million, which is 208 percent higher than October’s $10.4 million.

The operators in the state had a combined hold of 11 percent. The state also collected $3.2 million in taxes in November compared to just $1 million in October. Promotional spending for the first two months of operation costs sportsbooks $57 million.

Sportsbooks see Arizona as a lucrative market

Arizona sports betting has become a Top 10 market in the industry. Bettors across the state have a plethora of options to choose from to place a wager. The state houses 12 sportsbooks, with SuperBook Sports and Fubo Sportsbook launching in December and SaharaBets joining this month.

DraftKings Arizona accepted $148.7 million in bets which made up a 32.6 percent market share. FanDuel Arizona secured second place with $113.3 million, good for 24.7 percent. The Footprint Center has a retail FanDuel Sportsbook, and it brought in $4.7 million.

BetMGM followed with $93.2 million which accounted for 20.3 percent of the market. Caesars Sportsbook accumulated $63.5 million, and $2.8 million came via its retail location from Chase Field. The total was 13.9 percent of the market share. Barstool Sportsbook and WynnBet had the same handle of 17.8 million or 3.9 percent.

Arizona had the seventh-highest handle for November, but the fastest to reach $1 billion in that time frame may not last long. New York sportsbook operators brought in $603 million in wagers in less than two weeks and have shown no signs of stopping.

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