Revenue reports from the Arizona Department of Gaming show that a record was set for Arizona sports betting handle in March. Just over $759.8 million was accepted in sports betting wagers on mobile platforms and retail locations.
The handle record in March broke the previous mark of nearly $713.6 million in November 2023. This is the third time in the previous five months that combined handle surpassed $700 million. As usual, most bets are generated from online sports betting.
Of the amount wagered by players, just over $700 million was paid back in winnings. This left $59.3 million in gross sports betting revenue before promotional credit and operator loss reductions (amount of total handle minus payouts). After that, the state collected nearly $3.8 million of operator revenue in taxes. Taxes are noted as “Privilege Fees” in Arizona’s revenue report.
FanDuel was reported as the top operator for handle and gross revenue for March. Like the total handle record set, the Flutter Entertainment brand set a record for individual operator handle at just over $265.1 million. Adjusted gross revenue for online and retail operators is nearly $24 million.
Arizona March Gross Revenue Increases Year-Over-Year
While betting handle has broken records, the record set in gross gaming revenue was established at the beginning of the year at $70.9 million. This was the first time operator revenue eclipsed the $70 million mark. February revenue fell significantly to $54.3 million before bouncing back in March.
Comparing months, there was a 9.2% increase in gross revenue from February to March. It was still a significant 16.4% decline when compared January. Over the 2024 calendar year, $182.8 million has been collected in revenue. Nearly $11.2 million has been levied in taxes.
Gross gaming revenue for March 2023 was reported at $53.5 million across sportsbooks. This marks a 10.8% increase year-over-year, with one fewer sports betting operator.
Sportsbook Movement in Arizona
On April 4, Fanatics Sportsbook made its debut in Arizona. It joined the sports betting market by partnering with the Tonto Apache Tribe. At some point in the summer, it will launch a retail location inside the Mazatzal Hotel & Casino.
Earlier in May, Unibet announced it was leaving the Grand Canyon State. Betting will cease in just a few days at the end of the month. Current players should withdraw their funds from the sportsbook by June 3.
READ MORE:
About the Author
