Key Takeaways from Arizona Betting Apps November Revenue Report
Arizona betting apps had a total of $466.7 million in wagers in the third month, which was more than $20 million less than the amount wagered in October.
The Arizona Department of Gaming released its monthly report on Tuesday, showing a 3.9% decrease in sports betting handle for the second month in the state.
In just three months after the launch of sports betting in Arizona, the total handle exceeded $1 billion, with November’s numbers surpassing the $291.2 million in bets placed in September.
The financial report for ADG Director Ted Vogt on Tuesday highlights the swift growth of sports betting in the 48th state.
In a department press release, Vogt announced that Arizona has exceeded expectations and is now positioned in the top 10 markets nationwide. The revenue generated from the new games is strong and is projected to continue increasing as the market expands.
Below is a summary of the sports betting revenue report for Arizona in the month of November.
DraftKings remains at the top of its game
A notable takeaway from Tuesday’s revenue report is the continued dominance exhibited by DraftKings Sportsbook Arizona.
In November, the operator from Boston once again led in wagers, bringing in $148.7 million.
DraftKings outpaced FanDuel Sportsbook Arizona by over $35 million in total wagers, with DraftKings recording receipts of $148.3 million compared to FanDuel’s $113.3 million.
After the two daily fantasy experts, BetMGM Arizona led with $93.2 million in bets for the month, followed by Caesars Sportsbook Arizona with $63.5 million in bets.
Barstool Sportsbook and WynnBET Arizona were close behind the top four operators, also surpassing $10 million in wagers for the month. Barstool Sportsbook reported $17.8 million in wagers, while WynnBET Arizona reported $17.75 million.
TwinSpires Arizona and Unibet Arizona were the leading operators in wager amounts, with $1.5 million and $881,937, respectively.
How Arizona’s Market Compares Nationwide
Arizona placed seventh in the country for sports betting handle with $466.7 million, falling behind New Jersey, Nevada, Illinois, Pennsylvania, Michigan, and Colorado, but surpassing Indiana, Virginia, Tennessee, and Iowa.
Comparison of Arizona sports betting revenue and handle in November versus October
| Total Handle | Mobile Handle | Revenue | |
|---|---|---|---|
| November | $466.726M | $459.299M | $31.899M |
| October | $486.097M | $479.255M | $10.356M |
| Change | Down 4.0% | Down 4.2% | Up 210.6% |
Taxes collected from sports betting saw an increase in November.
The media has also focused on the absence of taxes generated in the initial two months of sports betting rollout.
Operators were able to deduct over $31 million in free bets, resulting in the ADG reporting slightly more than $1 million in combined sports betting taxes for September and October.
On the other hand, the November report showed that $3.177 million in taxes were collected, as a result of a decrease in free bets totaling $18.35 million for that month.
For the first five years of sports betting in Arizona, operators are eligible for a tax break on the free bets and promotional credits they provide. This tax break can reach up to 20% of their total gross wagers for the first two years.
As operators gain more market share and reduce reliance on free bets and promotional credits, the state is projected to see an increase in tax revenue in the upcoming year.
The sports betting market in Arizona is currently excelling nationally, holding its spot in the top-10 rankings for the second consecutive month.
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Author
Peterson Christopher has spent more than seven years covering sports and sports betting in Arizona for outlets like ArizonaSports.com, the Tucson Weekly, and the Green Valley News. Currently, he is the lead writer at yengols.com.
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