US Sports Betting Handle Over $10 Billion For First Time After Arizona Report

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Arizona sports betting

As Arizona sports betting continues its maturation, the state’s November revenue report sent the US sports betting industry into new territory. 

The Arizona Department of Gaming reported its November AZ sports betting report Thursday, including $616.9 million in wagers. With Arizona’s total, November 2022 US sports betting handle crested $10 billion, hitting $10.02 billion, for the first time.

The previous US record was $9.75 billion in January 2022. The US total is a 35% jump compared to November 2021.

Arizona sports betting climbs

The Arizona November handle was a 32.2% increase year-over-year. It is the second straight month for AZ sports betting to surpass $600 million in wagers.

“This milestone highlights Arizona’s strong sports betting market, which has already established itself as a top-ten market nationally,” ADG Director Ted Vogt said in a release.

Arizona sportsbooks generated $56 million in sports betting revenue, 9.1% hold. The state collected $3.8 million in taxes.

DraftKings, FanDuel pace Arizona sportsbooks

DraftKings led all sportsbooks with $200.3 million in wagers, just ahead of the approximately $196.5 million taken by FanDuel. FanDuel generated $24.6 million in revenue, ahead of DraftKings’ $11.4 million.

BetMGM was a distant third in the state, taking $93.9 million in bets. 

Caesars and Barstool Sportsbook were the only other sportsbooks to surpass $20 million, with $61.7 million and $20 million, respectively. 

Retail stays low in Arizona

Online sports betting made up 99% of overall handle. 

The FanDuel Sportsbook at Footprint Center took $2.9 million in retail wagers. Nearby at Chase Field, Caesars Sportsbook handled just over $1 million in bets. 

Out at State Farm Stadium, BetMGM’s retail sportsbook took $893,663.

Crossing a US sports betting milestone

Hitting $10 billion in a month is staggering compared to the early days of legal US sports betting, though many more states now feature legal wagering. Following PASPA, it took more than 13 months for the industry to see $10 billion in total handle.

Starting in June 2018, sportsbooks did not take a cumulative $10 billion in bets until sometime in July 2019, according to LSR data. There were three legal jurisdictions reporting in June 2018, jumping to 27 in November 2022.

Five states do not report sports betting figures because of their tribal-only status, but those figures are minimal.