Arizona Became the First State to Reach B in Three Months

Arizona Became the First State to Reach $1B in Three Months

Sports betting operators in Arizona generated in November wagers less than the previous month but enough to make the state the first to reach the $1 billion mark in just three months of operation, the monthly event wagering report released by the Arizona Department of Gaming (ADG) revealed.

One, Two, Three – One Billion

Arizona sportsbooks gobbled $466.7 million in November, down 2.6% on the previous month’s total of $479.3 million in wagers. Adding the September total of $291.2 million, Arizona sports betting generated nearly $1.23 billion for the first three months of operation since the state officially launched to become the quickest state to reach the significant mark.

Accounting for winnings paid to players in November, $415.3 million, Arizona sportsbooks ended the month with adjusted gross event wagering receipts of $50.27 million, up more than 38% on the previous month reading of $38.33 million due to the better margin, 10.77% as compared to 8% for October.

Adjusting the net gross receipts with the number of promotional credits and free bets, $18.37 million, sports betting operators accounted for $31.9 million in adjusted receipts subject to privilege fees, to generate $3.18 million in fees. For comparison, October accounted for a higher promotional spend, $25.97 million, to end with lower taxable revenue, $10.35 million, and lower privilege fees, $1.02 million.

Online Bets Lead the Way

Online wagering entirely dominated the month contributing to 98.4% of the state’s total leaving the remaining 1.6% to retail sports betting.

Among operators, DraftKings/Crown Gaming partnership accounted for $148.7 million of online generated wagers to affirm its first position despite the decrease of 1.8% compared to the previous month. The pair ended the month with $12.5 million in adjusted receipts prior to paying taxes.

Second place was for FanDuel, accounting for $4.67 million in retail and $113.3 million in online wagering, down from $4.85 million and $115.9 million in retail and online wagers in October. The Flutter-owned brand generated $15.4 million in adjusted receipts, more than DraftKings due to significantly lower winnings paid.

Third was BetMGM with $93.16 million of online wagers which generated $9.52 million in adjusted receipts prior taxes. The remaining places in the ranking were for Caesars, Penn Sports, WynnBET, Rush Street Interactive, and TwinSpires, while Kindred’s Unibet ranked last.