Arizona Sports Betting Market Closes Out Positive First Quarter

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Arizona sports betting

Arizona sports betting handle reached $644.7 million in March, the second-highest month since legal sports betting launched in September 2021. It trailed only the $691 million handled in March 2022.

It also helped close out a first quarter with across-the-board gains. Total AZ sports betting handle for the first three months of this year ($1.84 billion) was up 5.6% compared to the beginning of 2022 ($1.74 billion.)

According to figures released this week by the Arizona Department of Gaming, tax revenue for the Grand Canyon State increased over that time, too. Arizona received $8.2 million during the first three months of 2023, a nearly 83% increase over the $4.4 million in tax revenue during the first quarter of 2022.

Sportsbooks see revenue boost

Sportsbook revenue was up to begin the year as well. Operators generated $136.2 million between January and March. It is a 28% increase compared to the $106.4 million in revenue sportsbooks took in during the first three months of 2022.

FanDuel Sportsbook ($21.9 million) and DraftKings Sportsbook ($15 million) in March posted year-over-year revenue gains, 18% and 60%, respectively. The pair saw monthly revenue increase from the month before as well, 40% and 30%, respectively.

BetMGM ($9.5 million) and Caesars Sportsbook ($4.9 million) experienced revenue gains from February.

With nearly $255 million in March handle, FanDuel claimed 40% of the Arizona sports betting market. During the month, 99% of all betting happened online.

US sports betting handle nears record with Arizona

Legal US sports betting handle reached $11.3 billion in March. The single-month record of $11.5 billion was set earlier this year in January.

With March reporting now complete, Arizona closed the month with the seventh-highest handle among states with legal sports betting.