Arizona’s Sports Betting Sees Major Rise in September

Arizona’s sports betting market had a major milestone in September, as both handle and revenue saw a surge, helping to make the state as one of the fastest-growing markets in the US. With football season in full swing, legal sportsbooks in Arizona saw an impressive 70% increase in handle compared to August, reaching a staggering $610.7 million. This surge in activity sets a new industry standard and shows the increasing acceptance and popularity of legal sports betting in the state.

Leading the way in Arizona’s sports betting scene is DraftKings, which reported a handle of $218 million, solidifying its position as the top contender in the market. Not far behind is FanDuel, with a handle of $179.1 million, surpassing the combined handle and revenue of MGM and Caesars on the retail side. The success of these two giants highlights their growing dominance in the market.

The surge in handle also resulted in a significant boost in tax revenue for the state. Arizona saw an impressive $3.2 million flow into state coffers from the sportsbooks, a direct result of the increased handle generated during the month. This infusion of tax revenue is a welcome addition to Arizona’s finances and emphasizes the positive impact of a flourishing sports betting market.

The popularity of football played a crucial role in this exceptional growth. As fans eagerly placed bets on their favorite teams, the sports betting market experienced an unprecedented boom. The combination of enthusiasts’ passion for football and the convenience of legal sports betting propelled Arizona’s market to new heights.

The success story extends beyond physical locations. Out of the 17 available mobile sportsbooks, an impressive 14 turned a profit, highlighting the widespread popularity and profitability of online betting platforms. This surge in mobile betting activity further solidifies the idea that convenience and accessibility are driving forces behind the industry’s expansion.

While DraftKings and FanDuel emerged as clear leaders, BetMGM secured its position in third place with a handle of $89.9 million, successfully maintaining a substantial market share despite fierce competition. Another noteworthy contender is Barstool Sportsbook, which exceeded $10 million in bets, accumulating a respectable handle of $13.3 million. This rapid growth of a newcomer is evidence of the increasing popularity of sports betting in Arizona.

The hold percentage, which measures the sportsbooks’ gross profit, stood at 9.9%, surpassing August’s 8.6%. This increase in profitability indicates that both sportsbooks and bettors benefited from the surge in betting activity. Sportsbooks managed to retain a significant $59.6 million in gross profit, solidifying their pivotal role in Arizona’s thriving sports betting industry.

It is important to note that this surge in handle also had a positive impact on the state’s tax revenue. With a higher handle, the state’s tax revenue also saw a significant boost, providing a valuable contribution to Arizona’s finances. This positive financial impact further underscores the value of a flourishing sports betting market.

September’s exceptional handle clearly demonstrates the growing acceptance and popularity of legal sports betting in Arizona. The state successfully surpassed the half-billion mark in wagers, solidifying itself as a thriving market within the sports betting industry.

Looking ahead, the future looks promising for Arizona’s sports betting market. With ongoing football seasons, increased mobile betting options, and the continuous expansion of sportsbook offerings, the industry is poised for sustained growth. As more states embrace legal sports betting, Arizona’s success story serves as a blueprint for others to follow.