SPORTS BETTING

US – Arizona’s sports betting market sets new high in January

By Phil - 18 March 2024

Arizona’s sports betting sector reported record-breaking revenue of $70.9m in January, marking the second consecutive month of the state setting a personal best.

According to information from the Arizona Department of Gaming, gross sports betting revenue increased by 4.8 per cent from December’s high of $67.7m, and increased by a 49.4 per cent compared to January 2023.

Total handle in January came in at $706.4m, falling slightly short of November’s peak but still marking the second time it surpassed $700m in Arizona’s 29 months of legalised sports betting. Betting via sports betting apps accounted for 98.8 per cent of all handle, coming in at $698m.

This generated $4.6m in tax revenue for the state, the second-highest amount on record.

FanDuel, DraftKings, and BetMGM were the top earners for mobile sportsbooks, collectively generating $64.8m in gross revenue. FanDuel came in first place with a best-ever $31.9m, becoming the first operator in Arizona to surpass $30m in monthly revenue.

DraftKings also reached a new high in Arizona with $23.1m in gross revenue, while BetMGM came in just short of $10m. Caesars generated $3.5m in winnings.

ESPN BET was down one per cent with $472,000, while SuperBook posted its second monthly loss in a row. BetRivers grew to $533,200 in revenue, while Hard Rock Bet came in with $528,000.

On March 15, the Arizona Department of Gaming (ADG) has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organization of the Tonto Apache Tribe. On January 16, 2024, ADG announced that it would begin accepting applications for available event wagering licenses, which included one event wagering license reserved for Arizona Tribes and no less than one event wagering license reserved for Arizona Sports Franchise