Arizona Sports Betting's Successful First Year

Arizona Sports Betting’s Successful First Year

Arizona just celebrated its one-year sports betting anniversary on Sept. 9 and to say it has been a success would be putting it mildly. The Arizona Department of Gaming reports that through July 2022 there has been over $5 billion in wagers placed across the state.

Here’s a look back at the year as well as what’s ahead for Arizona sports betting.

Arizona Sports Betting Quick Hits

Below is a look at some facts about sports betting in the Grand Canyon State since the September 2021 launch.

Arizona had the fourth-highest transaction volume for the opening weekend of the 2021 NFL season.

It ranked below only three established and matured betting states in New Jersey, Pennsylvania, and Michigan.
There were more than 270,000 new accounts created between Thursday, Sept. 9, and Sunday, Sept. 12.

The state reached $1 billion in wagers in three months, which was a US sports betting record at the time.
March 2022 represents the monthly record for handle – the total amount of wagers placed – at nearly $691 million.
To date, sports betting has brought in just north of $18 million in revenue for Arizona’s General Fund.
The $5 billion in total wagers (as of July 2022) puts Arizona among the top 10 of all states.

Online Sports Betting Dominates Arizona

Currently, 18 online sportsbooks live in Arizona, although the TwinSpires Sportsbook will soon be closing shop. Of the $5.7 billion in wagers that have been placed across the Grand Canyon State, 99% of those wagers have come via online sportsbooks.

Even though there are nearly 20 online sportsbooks for Arizonans to choose from, three dominate the state. DraftKings, FanDuel, and BetMGM lead the state in wagers month after month. DraftKings sits atop Arizona’s sports betting mountain with a 31% market share of the state’s total wagers.

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Retail Sports Betting Growing

Because of the convenience of mobile wagering, retail sports betting is very unlikely to make up more than 5-10% of wagers in Arizona. This doesn’t mean they haven’t been successful in their own right, however.

Retail sportsbooks are spread out across the state at tribal casinos and professional sports venues. The most recent retail sportsbook to open in Arizona is the brand new BetMGM Sportsbook at State Farm Stadium, home of the Arizona Cardinals.

This is the very first sportsbook at an NFL stadium. The BetMGM Sportsbook also marks the third retail sportsbook located at a professional sports venue in the state – joining the FanDuel Sportsbook at Footprint Center and Caesars Sportsbook at Chase Field.

What’s Ahead for Arizona Sports Betting?

Arizona’s sports betting law currently allows for 20 mobile sportsbooks. As noted above, there are 18 online sportsbooks live in the state with TwinSpires closing over the coming months. It remains to be seen what happens with the TwinSpires license, but there are two licenses available regardless.

The big upcoming event will be Super Bowl 57 which is being held in Arizona this year at State Farm Stadium. With the newly-opened BetMGM retail sportsbook, it is going to be very interesting to see the wager totals throughout Super Bowl weekend.

Other retail sportsbooks are sure to pop up, including a DraftKings Sportsbook at TPC Scottsdale which is scheduled to open in Fall 2023.

Despite launching a year ago, Arizona has quickly established itself as one of the top sports betting states in the US. As wagering becomes second nature to Arizonans, it will remain successful and only continue to grow.

 

Photo courtesy of the Arizona Diamondbacks