Arizona bettors continued the November hit parade of all-time monthly highs for sports wagering as the state’s Department of Gaming reported handle totaling close to $713.6 million on Tuesday.

That bettered the previous record of nearly $691 million set in March 2022. Arizona sports betting handle was up 15.6% compared to November 2022 and 10.1% from October as Arizona moved within $120 million of clearing $6 billion worth of accepted bets for the second straight year.

Arizona became the 16th state to post an all-time high for accepted wagers in November, leaving Kentucky as the last state to report. If the Bluegrass State totals $310 million handle for that month, the national monthly record will be set at just over $14.5 billion.

Like most other states that saw record action, Arizona’s sportsbooks failed to take full advantage. Operators totaled more than $42.3 million before any deductions were counted as they posted a 5.9% hold.

Gross sports betting revenue was down 24.4% compared to November 2022 and 25.6% off October’s $56.9 million haul. The win rate was the second-lowest win rate of 2023, ahead of only the 5.8% crafted in February, and sixth-worst in 27 months of legal betting.

Promotional and bonus spend among operators that had positive adjusted gross revenue after the federal excise tax was deducted came to more than $20.5 million. That was $2 million less than September and somewhat surprising given ESPN BET‘s mid-month launch nationwide. The PENN-backed mobile betting app was a distant third behind DraftKings and FanDuel for outlay at less than $3.8 million.

The state was eligible to levy taxes on more than $20.5 million in adjusted gross revenue, resulting in an inflow of just over $2 million into state coffers. Arizona has claimed nearly $30 million in state taxes through sports wagering from the first 11 months of 2023, which is nearly $4.8 million ahead of the same pace from 2022.

ESPN BET’s handle nearly tripled from October, totaling just over $39 million compared to the $13.9 million worth of bets predecessor Barstool Sportsbook accepted in October. ESPN BET was a clear-cut fifth for November among the 17 mobile operators, and the 5.5% market share tied Indiana for its second-lowest among the 11 states that have published mobile betting handle by operator in November.

Its promo spend of nearly $3.8 million was the lightest of the six states that publish promotional outlays and approximately 60% of the $6.3 million spent in Kansas. The PENN Entertainment book still has plenty of work to do in the Grand Canyon State to move up the totem pole for handle: Caesars was fourth with $66.5 million, which equated to 9.4% of the $705.7 million in digital bets accepted.

ESPN BET, however, did fare well in terms of wins and losses. Its 9.95% hold was the highest among all Arizona operators that had at least $1 million handle as it claimed close to $3.9 million in gross revenue.

ESPN BET continued to buck the down November most mobile sportsbooks had — it has posted a 12.1% win rate spanning the 11 states where handle and revenue figures have been published. That is nearly six full percentage points higher than the 6.3% nationwide hold for November operators have fashioned from the known revenue of $865.1 million against the $13.68 billion in accepted bets. ESPN BET has claimed more than $56.9 million in revenue from close to $470 million handle.

1 NEW YORK ~$19.2B
2 NEW JERSEY $11.97B
3 Illinois $10.31B
4 PENN. $7.68B
5 Nevada $7.42B
6 Ohio $6.84B6
7 Arizona $5.88B <-NEW
8 MASS. $4.97B
9 Virginia $4.96B
10 Colorado $4.84B#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) January 23, 2024

FanDuel and DraftKings were 1-2 in handle, with the former narrowly missing $250 million for the second time in 2023 and the latter coming within $1 million of its record $230.2 million in March 2022. FanDuel surpassed $2 billion in accepted wagers in Arizona for the year, while increasing its spread this year to approximately $290 million over its eternal rival.

DraftKings, however, got the better of FanDuel in revenue for November with nearly $17.3 million in gross winnings. Its 7.5% hold was down more than 2.5 percentage points compared to October but still a less steep drop than FanDuel, which saw its win rate plunge nearly 3.5 points to a year-low 5.7%. FanDuel claimed nearly $14.2 million in winnings, leaving it less than $2.5 million shy of $200 million for 2023.

BetMGM had a run of four straight months with double-digit holds come to end with an all-time low of 5.3%. Its $4.8 million in gross revenue was barely more than half its $9.2 million haul from October as the win rate was nearly five percentage points lower.

Caesars also had its worst month in Arizona in terms of hold, getting limited to 1.9% as it reported nearly $1.3 million in revenue. It was a challenging month for the mobile books as five of them — WynnBET, Bally Bet, Betfred, Golden Nugget and Hard Rock — finished in the red while another four posted sub-3% win rates.

Even with November’s sluggish outcomes for operators, gross revenue is still up 17.3% compared to the first 11 months of 2022 at $489.7 million. That has outpaced the 7.6% increase in handle to $5.88 billion as the statewide 8.3% hold is up almost seven-tenths of a percentage point.

Taxable revenue is up 21.7% to nearly $301.2 million, with 61.5% of operator winnings subject to the 8% retail and 10% mobile levies on the year.