Arizona sportsbooks set record during debut month of sports betting
The Grand Canyon State brought in nearly $300m in wagers during September.
Arizona’s sportsbooks had the busiest first month in the history of US legal sports betting. The state brought in nearly $300m in wagers during its debut month in September. This set a record: a larger take than any other state’s first month in US history.
Arizona’s online and retail sportsbooks accepted $291.2m in wagers in September, according to data recently released by the Arizona Department of Gaming. That buried the former record set by Tennessee in November 2020 of $131.4m for a market’s first calendar month.
“Football is the straw that stirs the sports betting drink, so launching ahead of the NFL’s first game and with college football going full tilt was critical,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayAZ.com.
“Most of the country’s best-known sportsbook brands jumped in early, too. And with nearly a full month to operate, it made for a remarkable debut.”
The state’s sportsbooks generated a total of $32.3m in gross gaming revenue from September 9 through September 30, which is also the most in history for a state in its first month of legal sports betting. This generated $31.6m in net revenue. After $31.2m in promotional credits, the state taxed $392,418 in gross event wagering receipts, producing $31,293 in privilege fees for the state.
“Arizona has enormous potential as a market, but it is encouraging for the industry to see such a strong debut,” said C.J. Pierre, lead analyst for PlayAZ.com. “Setting a record in the first month would qualify as getting the market off on the right foot. The next question is how quickly the state can ramp up and compete with more established markets. It appears that won’t take long.”
The state’s operators also got a boost from the hot start by the Arizona Cardinals, spiking bettors’ interest.
“Local sports matter and a strong NFL team matters more than most, so the Cardinals’ historic start was a godsend for sportsbooks,” Ramsey said. “Arizona’s operators are aiming to engage new bettors and quickly grow their customer base. An enthusiastic fan base makes that job easier.”
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