Arizona Sees Sports Betting Surge
Arizona is now the final state to post August sports betting numbers, and it will put a bow on what was a great month for the entire industry. As expected, the August numbers in Arizona were up as well, and it should set the stage for some big months to finish out the year.
The total sports betting handle for the month in Arizona was $361 million, which was a 24% jump from the July 2022 total. Sports betting in Arizona didn’t launch until September 1, 2021, which meant that the August report wrapped up the first full month of wagering.
Since sports betting officially launched in Arizona, the state saw over $5.4 billion in wagers placed. A large portion of that total has come in 2022, as the yearly total up to this point is $3.7 billion.
Arizona has established itself as a leader in the U.S. sports betting scene, as the yearly handle is the sixth-highest mark in the country. It was also a profitable month for both the sportsbooks and the state in general.
Gross revenue for the month was $36.3 million, but $8.5 million of that total was deducted as bonuses or promotions. Arizona was able to tax $27.8 million, which brought the state right around $2.8 million.
There was nearly $5 billion wagered throughout the United States during the month of August. Sportsbooks in the U.S. won 10.3% of all wagers for the third-highest win rate over the last 51 months.
DraftKings Back on Top
There are 18 online sportsbooks in the state of Arizona, including some of the biggest names in the industry. It has been DraftKings Sportsbook that is performing the best in Arizona, and that was the case yet again in August.
DraftKings Sportsbook posted a total sports betting handle of $129.8 million for the month of August, which was just slightly ahead of the $108.7 million that was brought in by FanDuel Sportsbook. FanDuel did have the most revenue as it posted $11.5 million to $11.2 million for DraftKings.
Retail wagering is available in the state of Arizona as well, but nearly all of the wagers are being placed at one of the online or mobile sportsbooks.
Big Things Coming For Arizona
The first 12 months of legal sports betting has gone better than expected for Arizona, but this state has no plans of slowing down. According to an economic projection from College of the Holy Cross, total sports betting handle should jump to over $7 billion over the next 12 months.
One advantage Arizona has is that professional stadiums and venues are able to get in on the action. The 2023 Super Bowl will be played in Arizona, and sports betting is available at State Farm Stadium in Glendale.
