According to PlayAZ analysts, Grand Canyon State’s recent history of$ 500 million in control in a single month places it just short of becoming the eighth U.S. state.
(LAS VEGAS) — Sportsbooks fell just short of making Arizona the ninth state to generate $500 million in wagering over a single month, capping an impressive debut with $499 million in wagers in December. With the third straight month of at least $466 million in betting, Arizona continues to benefit from good timing and an enthusiastic reception, according to analysts from play-in-az.com, which tracks the fledgling Arizona gaming market.
According to C. J. Pierre, lead scientist for play-in-az.com, the NFL season kept bets high even as bookmakers returned to something resembling regular after a spike in commercial spending early on. Interestingly, bettor enthusiasm is still high, and Arizonans will grow more accustomed to less traditional products like in-game betting. That ought to keep things moving through March Madness. & rdquo,
According to official data released Tuesday by the Arizona Department of Gaming, Arizona & rsquo’s online and physical sportsbooks brought in a record$ 499.2 million in wagers in December, an increase of 7 % from the$ 466.7 million bets made in November. December & rsquo, s handle overtook Octay,$ 486.1 million, the state’s highest point, by a wide margin. Over the 31 days of December, bettors made an average of$ 16.1 million per day, up from$ 15.6 million in November.
Arizona sportsbooks won $39.8 million in gross sports betting revenue, which was down 23% from $51.4 million in November. Sportsbooks’ 8% hold remained among the highest rates in the U.S. in December, and the highest among the 10 largest markets. After $21.3 million in promotional credits, the state taxed $17.3 million in gross event wagering receipts. That produced $1.7 million in taxes for the state.
Arizona & rsquo, s sportsbooks produced over the course of four months:
- wager of$ 1.7 billion
- 161.1 million in total sales
- Luxury fees totaling$ 6.0 million for the express
Following the launch of smart casinos, New York broke several of Arizona’s records, but that shouldn’t lessen how well the condition has fared, according to Eric Ramsey, an researcher for the PlayUSA.com Network, which includes PlayAZ.co. & ldquo, We anticipated Arizona to perform well when sports betting was introduced in September, but the market has maintained its high standards with outcomes that rival more developed markets, some of which have much larger populations. & rdquo,
Online sportsbooks in Arizona99.1 % of the state & rsquo’s handle in December brought in$ 494.5 million in wagers. Retail sportsbooks accepted the remaining$ 4.7 million in wagers from the state & rsquo.
With$ 146.0 million in net wagers in December, DraftKings maintained its business dominance. From$ 148.7 million in November, that was a slight decrease. From December & rsquo, the operator won$ 11.3 million, down from$ 12.5 million in November.
With$ 131.1 million in bets, including$ 128.5 million digitally, FanDuel drew closer to its adversary. December & rsquo’s handle increased from$ 18.0. million in November and generated gross profit of$ 11.1 million. The next-closest to the online leaders were Caesars($ 76.0 million in wagering, including$ 79.9 million online,$ 5.3 million gross revenue ) and BetMGM($ 108.8 million, all online ), respectively.
With a slew of launches in the first two months of the year, Arizona now has 17 online operators. But one Arizona lawmaker, Sen. Sally Ann Gonzales, recently called into question the fairness of the state’s sports betting law for Native American tribes.
No launch is entirely soft because Arizona is still a relatively new market, according to Pierre. & ldquo, However, despite the fact that promotional spending and other early-market hallmarks are starting to settle, the majority of state & rsquo operators are off to a great start. & rdquo,
Visit play-in-az.com / news for more details and analysis on regulated sports betting in Arizona.
Contact: Zack Hall, Catena Media, [email protected]
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