Arizona handles $645m in March bets for second-biggest sports betting month since launch
Huge month helps Grand Canyon State generate record $53.4m in adjusted gross revenue
Arizona’s online sports betting market continues to thrive, with the state totaling $644.8m in handle for the month of March as reported by the Arizona Department of Gaming (ADG).
The nearly $645m in handle represents the second-biggest month overall since Arizona launched online and retail sportsbooks in September 2021, eclipsed only by $691m in handle from March 2022.
The most recent haul marked the fifth time in 19 months that Arizona reached the $600m threshold, with handle up 5.8% month over month (MOM) from $609m in February – when Glendale played host to Super Bowl LVII.
Revenue, meanwhile, saw a massive jump, as the ADG reported a record $53.4m in adjusted gross revenue (AGR), a 43.6% year-over-year (YOY) increase from $37.2m during the same period of 2022, and a 57.1% MOM uptick.
Hold for the month checked in at a healthy 8.3%.
Taxable revenue – after the deduction of free bets and promotional credits – came to $37.1m, resulting in $3.7m back to the state in privilege fees. Arizona taxes online wagers at 10% and retail bets at 8%.
The Grand Canyon State is almost exclusively mobile, as over 99% of the March handle ($639.9m) came from online bets.
On the operator side, FanDuel maintained its near stranglehold on the market, accounting for just under 40% of total handle ($257.2m) while generating $21.4m in AGR.
DraftKings ranked second in both categories, totaling $14.6m in revenue on $168.8m in bets.
BetMGM – which operates the retail sportsbook adjacent to State Farm Stadium in Glendale – rounded out the top three with $88.8m and $9.5m in handle and revenue, respectively.
Across all US states, Arizona ranked seventh in handle for March, behind Pennsylvania and ahead of Massachusetts.