Arizona set a new gaming record in January when more than half a billion dollars were bet on event wagering and fantasy sports, according to a new report by the Arizona Department of Gaming.
“With over half a billion dollars wagered in January, it is clear that Arizona has become a top ten event wagering market nationally,” said Ted Vogt, Director, ADG. “A big thank you to Arizona Department of Gaming Staff and event wagering & fantasy sports stakeholders, whose work has contributed to the strong start in the state.”
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Key takeaways from Christopher Boan with BetArizona.com:
• Arizona sports betting’s January handle hit half a billion dollars. The handle figure of $563.6 million set a new state record and was more than $60 million greater than December’s handle of $499 million. Online sports betting in the state debuted on the first day of the 2021 NFL season, Sept. 9.
• Arizona’s January handle was seventh place nationally behind New York ($1.68 billion), New Jersey ($1.3 billion), Nevada ($1.1 billion), Illinois ($867.5 million), Pennsylvania ($793.7 million) and Colorado ($573.7 million). Arizona moved ahead of Michigan ($532.6 million) in January. Indiana was the other state to surpass $500 million in handle for the month. January was the first month there was legal online sports betting in New York.
• The $1.749 million in taxes taken in by the state was slightly ahead of the December figure of $1.7 million. The biggest tax month since sports betting launched was November, when $3.1 million was earned for the state. Arizona has taken in nearly $8 million in taxes for the first four-plus months sports betting has been legal. Operators gave out $20.8 million in free bets and promotional credits in January. Operators get a tax break on the free bets and promotional credits they offer during the first five years of sports betting in Arizona. That tax break is up to 20% of their gross wagers for the first two years.
• DraftKings and FanDuel continue to be the market leaders in handle. DraftKings took in $173 million in January, while FanDuel had nearly $154 million in wagers. BetMGM also crossed the $100 million mark during January at $120 million. There were 12 active operators in the state in January. March will be the first month all 18 licensed operators are active in the state.
Arizona operators accepted over $560 million dollars in wagers during the month of December, resulting in approximately $1.7 million dollars in privilege fees contributed to the state. You can view the full reports on the ADG website: LINK.