Arizona Posts First Sports Betting Numbers
The Arizona sports betting report is in as Arizona posts first sports betting numbers. That reported detailed the success of the first two months of the new industry. As expected, the online betting industry got off to a massive start, and the state will continue to grow.
Arizona posted a total sports betting handle of $291.2 million in September, which shattered the record for the best first month on record. The state then followed that up with $486.1 million for the month of October.
The gross revenue for the month of September was more than $31.6 million, but the state only saw right around $31,000 in tax revenue. The state allows sportsbooks to deduct promotions from the total, and that will keep the state from seeing much money.
Arizona did bring in close to $1 million in tax revenue for the month of September, but the handle was higher as well. The October sports betting gross revenue was right around $36 million, and that means great things for the sportsbooks.
Football led the way for the sports betting industry during the months of September and October and that was planned by the Arizona Department of Gaming. The Arizona Cardinals got off to a great start, and that increased the betting action as well.
DraftKings Out in Front
There has been some shuffling of the top sportsbooks from the first two reports, but the top spot has been the same. DraftKings has posted the highest online sports betting handle for both months, and it really hasn’t been close.
The total handle was $97.7 million during September, and then it jumped up to $151.4 million during the month of October. BetMGM came in second place for handle in September, but it was FanDuel that took over that spot in October.
FanDuel and Caesars were the only two sportsbooks that had any retail sports betting handle for each of the first two months. That will change in the future, especially if new sportsbooks are build in stadiums.
Even when full retail betting is available in Arizona, it will be online sports betting that remains the most popular option.
More Sportsbooks Coming
When Arizona first launched sports betting back in September there were eight sportsbooks that were ready to go. That number has since climbed all the way up to 11, but the state still isn’t done.
Arizona lawmakers wanted to make this a competitive and wide-open market, and they allowed for a large number of licenses to be available. Operators were able to partner with casinos and professional sports teams to enter the state.
Over the next couple of months, at least seven new sportsbooks are set to launch in Arizona. Those sportsbooks are going to have a tough time competing with the operators that are already established, especially at the top of the list.
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