Betfred Launches Into Maturing Arizona Sports Betting Market

Written By Pat Evans on March 11, 2022
Arizona sports betting

As Arizona sports betting reaches record figures, Betfred announced its full launch into the market.

Following a soft launch in January, Betfred announced its full Arizona sports betting debut Monday.

“I could not be more excited to expand our Betfred Sports betting apps into the Arizona market,” Betfred Sports COO Bryan Bennett said in a statement.

Arizona sports betting handle climbs

On Tuesday, the Arizona Department of Gaming revealed a record $499.2 million was bet in December.

December’s AZ record handle is up nearly 7% from November‘s $466.7 million and an increase of 2.7% compared to October‘s previous record of $486.1 million.

“With a new record for total wagers and payouts this December, I am excited to see the continued strong start to the state’s event wagering & fantasy sports market,” ADG Director Ted Vogt said in a statement.

Arizona revenue dips

While Arizonans bet record amounts, AZ sportsbooks are still doling out promos, which is keeping taxable revenue relatively low.

Arizona sportsbooks held 7.7% for $38.6 million in revenue. The operators deducted $21.3 million in promotional credits, bringing adjusted revenue to $17.3 million.

The state collected $1.7 million in taxes in December.

In November, sportsbooks held 11% for a record $51.4 million in sports betting revenue.

DraftKings tops Arizona

Arizona bettors places almost all wagers online, with 99%, or $494.5 million, of the total handle coming from mobile sportsbooks. There were 11 online sportsbooks live in December.

DraftKings controlled 29.5% of the mobile market with $146 million in handle. FanDuel Sportsbook took $128.5 million for near 26.0% of the market. BetMGM Sportsbook also hits nine figures, taking $103.8 million in bets.

The two retail sportsbooks open were:

  • FanDuel at Footprint Center: $2.6 million in handle
  • Caesars Sportsbook at Chase Field: $2.1 million in handle
BrandHandleRevenue HoldPromoOnline Market Share
DraftKings$146.0 million$11.3 million7.7%$4.3 million29.5%
FanDuel$131.1 million$11.1 million8.5%$3.5 million26.0%
BetMGM$103.8 million$9.1 million8.8%$7.6 million21.0%
Caesars$76.0 million$5.3 million7.0%$4.4 million14.9%
Barstool$20.6 million$1.4 million6.8%$433,9974.2%
WynnBet$14.3 million$1.1 million7.7%$502,9902.9%
BetRivers$4.9 million$264,8095.4%$252,5941.0%
TwinSpires$1.7 million$223,10213.1%$218,764<1%
Unibet$703,115$34,9775.0%$33,219<1%
SuperBook$171,092$36,30121.2%$34,218<1%
Fubo$34,497(-$3,381)----<1%

Betfred jumps into growing market

In December, Betfred launched kiosks at the We-Ko-Pa Casino Resort in Fort McDowell. The resort is owned by the Fort McDowell Yavapai Nation, which received a license in August 2021 when the ADG awarded the first 18 AZ sports betting licenses.

There is a temporary betting station in the WKP Sports & Entertainment Sports Bar. Later this summer, a permanent retail sportsbook will open at the resort.

Arizona is the sixth live state for Betfred, which is also active in:

Arizona sports betting fills up

In January, the Arizona Coyotes launched SaharaBets, while Hard Rock Digital announced its partnership with the Navajo Nation.

In February, the ADG issued the remaining outstanding licenses that were awarded in August 2021. Sportsbooks approved in February include:

  • Bally Bet
  • Betway
  • Desert Diamond Digital
  • Golden Nugget

All 18 licensed sportsbooks are approved and operational, according to an ADG spokesperson. The regulator also issued 10 limited event wagering operator licenses in February, which allows horse racing tracks and off-track betting facilities to open retail sportsbooks.

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Pat Evans

Pat Evans is a Las Vegas-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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