Arizona becomes eighth state to clear $500m in a single month

The state’s sportsbooks earned gross gaming revenue of $41.9m.

Despite its relative infancy, Arizona’s sports betting market is already making waves in the industry. Joining just eight other states, the region surpassed $500m worth of bets in a single month, with a $563.7m handle in January. 

Comfortably surpassing its previous record, which came in December 2021, January’s numbers are reflective of a packed NFL schedule coalescing with a growing nationwide appetite for sports betting. 

With this handle, bettors wagered approximately $18.2m per day, a boost over December’s $16m.

Revenue was also up in the Grand Canyon State, growing by 5.2% when compared to the previous month and coming in at $41.9m. This hold is reasonably high when compared to a number of other states in the country, which saw the metric fall during January.

Online sportsbooks continued to reign supreme in January, as has become commonplace in recent years, making up 99.1% of all bets placed in the state or $558.7m.

DraftKings held onto its crown at the top of the state’s sports betting market in terms of handle, recording $173.1m in bets. FanDuel trailed in terms of handle, but led the state in regard to revenue, earning $12.8m compared to its rival’s $11.3m. 

BetMGM and Caesars Entertainment followed the two leaders in third and fourth place respectively. 

Since its launch in September, the Arizona sports betting market has grown to be one of the nation’s most prominent jurisdictions. Since October, every month has seen over $460m in bets placed, surpassing states such as Illinois, Michigan and Pennsylvania. 

Henry Moore

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