Arizona Sports Betting Revenue Reaches New Record, Despite Year-On-Year Decline

Arizona sports betting hit a new record in November with players spending $713.6 million, marking a 3.3% increase from the previous record set in March 2022. Online wagers made up the bulk of the spending at $705.7 million, with only $6.1 million coming from retail sportsbooks and $1.8 million from limited event wagering operators.

Despite the increase in handle, the revenue for the month was down compared to the same period last year. Licensees paid out $671.3 million in winnings to players, leaving an adjusted gross revenue of $20.3 million. This revenue was 45.9% lower than in November 2022 and 38.5% lower than in October.

In terms of individual operators, DraftKings and its partner, Crown Gaming, led in the online market, with revenue reaching $9.7 million. FanDuel processed the most bets at $249.3 million, but only posted $7.7 million in revenue, putting them in second place. Bally Interactive was the only other online operator to generate more than $1 million in revenue.

Only four retail operators reported positive revenue, with FanDuel taking the lead at $115,060. Caesars and BetMGM followed closely behind. Limited event wagering operators also saw TP Racing claim the top spot with $42,575 in revenue.

Despite the decline in revenue compared to previous years, the record-breaking handle in November suggests a growing interest in sports betting in Arizona. With online wagering dominating the market, it will be interesting to see how operators adapt to the changing landscape in the coming months.

By admin