Arizona sports betting hits record as March Madness lifts numbers
Grand Canyon State reports month-over-month revenue and handle rises as DraftKings and FanDuel lead latest figures
Arizona sports betting hit new highs in March, with NBA playoffs and March Madness betting leading to double-digit month-over-month rises in both handle and revenue.
Releasing its latest report for the period, the Arizona Department of Gaming (ADG) confirmed licensed Arizona sportsbooks took $691m in bets during March, a figure up 40% month over month when compared to the $491.7m received in February.
The Grand Canyon State’s sportsbooks generated $37.2m in revenue, up 45% from February’s $25.6m, but down 38% from the November 2021 all time high of $51.4m.
Operators gave out $18.5m in promotions and free bets in March, reducing the taxable revenue figure to $18.6m, with the ADG collecting $1.8m in taxes.
Of the operators licensed, DraftKings led the way in March in respect of sportsbook handle with $230.2m in bets processed, just ahead of FanDuel with $187.4m and BetMGM with $133.7m in handle.
In respect of revenue, FanDuel’s Arizona sportsbook generated the most during March, with $13.4m, just ahead of BetMGM which generated $10.3m in revenue, and DraftKings, which could only manage $7.2m.
Only two retail sportsbooks were open for business in March, with the FanDuel Sportsbook at Footprint Center taking $2.9m in bets, while the Caesars Sportsbook at Chase Field took just $458,758.
ADG director Ted Vogt welcomed the positive results as a signpost for continued growth in Arizona.
“March was an exciting month for Arizona event wagering, with major sporting events like NCAA’s March Madness helping set a single month event wagering handle record,” said Vogt.
“I look forward to seeing how the industry continues to develop as we finish out the first year of legal event wagering in the coming month,” he added.