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Arizona sports betting handle tops $491m for February

Arizona sports betting news

Arizona sports betting operators took in nearly $500 million in wagers during the four weeks of February, according to the latest financial information released by the state regulator.

The report published by the Arizona Department of Gaming shows that operators across the state reported $491.7 million in bets for February, a decline of 13% from the record $563.7 million posted in January.

Of the total amount wagered through the month, $488.3 million came from online licensees, a decline of 12.6% from the $558.7 million reported in the month prior. The two retail sportsbooks in Downtown Phoenix also reported a decrease in handle as they combined to post $3.4 million in wagers for February, down from $5.0 million in January.

The total amount held by the bookmakers after settling winning bets was $24.4 million, indicating a decrease of 39.8% million from January’s net win of $40.5 million. The figure translates to a win rate of 4.96%. The taxable revenue after the deduction of free bets was $6.9 million, down from $19.6 million in the month prior.

Commenting on the numbers, the Director of the Arizona Department of Gaming, Ted Vogt, said:

“Event wagering levels continue to indicate a strong market in Arizona. While there was a small decline in wagering activity, the state maintained a strong national presence in a traditionally slower month of sports wagering.”

When it comes to taxes, the ADG collected $670,685 in privilege fees from operators in February, down from $2.0 million in January.

FanDuel dethrones DraftKings to lead in AZ

FanDuel was the king of Arizona’s legal sportsbook market in February.

The operator processed $145.2 million worth of wagers during the month to claim the top spot. Some $142.4 million of the wagers came in through the FanDuel mobile app, while $2.8 million came from the retail sportsbook at Footprint Center.

DraftKings, which had been the leading operator in the state since the regulated industry took off in September, came second after accepting $131.7 million in wagers for the month.

READ: Navajo Nation partners Hard Rock for Arizona sportsbook launch

The licensee with the third-highest handle was BetMGM at $99.9 million, with Caesars coming in fourth place after posting a combined $79.02 million in bets from its online and retail

Caesars’ physical sportsbook is located at Chase Field and it is one of the two commercial retail sportsbooks owned by an Arizona-based sports organization or franchise. The operator runs the venue on behalf of its sports betting partner, the Arizona Diamondbacks.

Barstool Sports and WynnBET ranked fifth and sixth, respectively, with $18.0 million and $8.9 million in handle.

Arizona sports betting market continues to show solid growth

All operators approved to offer mobile betting in Arizona are now live.

The ADG allocated 18 combined event wagering licenses to tribal casinos and pro sports organizations based in the jurisdiction in August, allowing them to operate both online and on-site sportsbooks when the legal market launched. The industry got off the ground on September 9 with six licensees commencing operations on the first day.

Since September, Arizona’s sports betting industry has grown to become one of the largest regulated markets in the country. The state reported $291.2 million in wagers during the first month of operation, and the sector has continued to show impressive growth as more licensees debuted their offerings. The last batch of online sportsbooks went live in February.

As of February 2022, the state has reported $2.8 million in total betting handle, while the gross revenue generated by the industry during the first six months stands at $228.6 million. The sector has yielded approximately $8.6 million in taxes for the state during the period.

The sportsbooks licensed to accept sports wagers from bettors across the state include DraftKings, FanDuel, Caesars, BetMGM, Unibet, WynnBET, TwinSpires, Bally Bet, Betfred, Hard Rock, Golden Nugget, Sahara Bets, Barstool Sports, Fubo Sportsbook, Desert Diamond, SuperBook, BetRivers, and Betway.

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