The Grand Canyon State started 2022 with a bang. The Arizona sports betting handle posted a monthly record of roughly $563.7 million in January. This is a 12.9 percent increase from December’s handle, which also set a record for a monthly handle of $499.2 million.
Arizona Sports Betting Handle Breaking Records
The January statistics make Arizona the ninth state to record a monthly sports betting handle of at least half-a-billion dollars. The other states to accomplish that feat are Colorado, Illinois, Indiana, Michigan, Nevada, New Jersey, New York, and Pennsylvania.
Eclipsing the half-a-billion dollar mark is not a fluke either. Arizona has recorded a handle of at least $450 million in all four full months it has been operational.
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Breakdown Of Arizona Sports Betting Revenue
The state’s retail sportsbooks along with mobile sports betting apps produced a total of $40.5 million in gross revenue, resulting in a 5 percent increase from December.
Sportsbooks DraftKings, FanDuel, and BetMGM led the pack accounting for almost 80 percent of the $558.7 million mobile and online handle for January. Caesars Arizona came in with $72.4 million in wagers, close to its all-time high of $73.9 million in December. WynnBet Arizona finished January with $12.8 million in wagers.
Nearly $20.9 million in promotional credits were used in the month of January.
BetMGM Arizona spent more than $8.6 million in promotional credit in January, totaling $25 million since September. Where DraftKings Arizona dished out $4.8 million on promotional credits in January. With FanDuel Arizona spending the least amount on promotions, the sportsbook’s revenue resulted in close to $8 million.
We can only assume that February will be another record-breaking month thanks to the Super Bowl and the Waste Management Phoenix Open.
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Tax Revenue To The State From Arizona Sports Betting
In the month of January, Arizona generated $2 million in taxes from sports betting. Since the launch of sports betting in September, the state has generated $7.9 million in taxes from event wagering.