Arizona reported its first decline in sports betting wagers during the month of February. The state took in close to $500m in wagers during the month thanks to the Super Bowl but still showed an overall monthly decline in activity, according to PlayAZ analysts.
Despite February’s decrease in activity, its handle was the third highest in volume since Arizona launched regulated sports betting in September. Arizona has generated close to $3bn in wagers during the last six months the commercial market has been open.
Analysts attributed the decline in wagers to February’s short month. February only had one football game.
Bettors statewide placed $491.7m in wagers through Arizona’s online and retail sportsbooks during February, which reflected a 13% fall from its highest month. January remains the best month for the state, with bettors placing $563.7m in sportsbook wagers, according to the Arizona Department of Gaming.
The report shows that Arizona gamblers bet an average of $17.6m per day during February.
Sportsbooks generated $25.6 million in gross revenue from March wagers, reflecting a decrease of 39% compared to January.
Online sportsbooks contributed $488.3m or 99.3% of the state’s overall February handle. The other $3.4m in bets came from retail sportsbooks.
In a breakdown by sportsbook, FanDuel grabbed the top spot with bettors placing $142.4m in online wagers. Total wagers placed through FanDuel amounted to $149.8m. FanDuel reported a total of $2.5m in gross revenue.
DraftKings came in second statewide. Its $131.7 million in wagers came exclusively from bets placed online. DraftKings generated the highest gross revenue during February, reaching $10.1m.
BetMGM and Caesars followed in February’s ranking, with total wagers of $99.8m and $79m respectively.
