Arizona sets new sports betting handle record in November

By Robert Fletcher

Players in Arizona spent $713.6m (£560.9m/€657.2m), a new record for the Grand Canyon State, but revenue was down year-on-year.

Handle for November was 3.3% ahead of the existing Arizona record of $690.0m in March 2022. It was also 15.7% higher than $616.9m in November 2022 and 10.1% more than $648.2m in October 2023.

Some $705.7m was wagered online and $6.1m at retail sportsbooks. A further $1.8m was bet with limited event wagering operators in Arizona.

Licensees paid out $671.3m in winnings to players while free bets and promotional credits in November amounted to $20.5m. This left $20.3m in adjusted gross revenue for the month.

Revenue was 45.9% lower than $37.5m in November 2022 and 38.5% behind $33.0m in October. Online betting revenue hit $19.9m, retail revenue $338,476 and limited event wagering $96,986.

As for tax, this reached $2.0m in November. Almost all of this came from online wagering, with only minimal contributions from retail and limited event wagering operators.

DraftKings and Crown Gaming lead in Arizona

Looking at individual operators, DraftKings and partner Crown Gaming were ahead in the online market. Online revenue from the partnership reached $9.7m from $229.4m in wagers.

FanDuel took more bets, processing a total of $249.3m in online wagers. However, it could only post $7.7m in revenue, putting it second behind DraftKings. 

The only other online operator to post more than $1.0m in revenue was Bally Interactive, which hit $1.9m from $91.7m in internet wagers.

As for retail operators, only four were able to report positive revenue. The leader of the pack was FanDuel on $115,060 off a $1.9m handle.

Just behind in second place was Caesars with $111,979 from $1.1m. BetMGM was third with retail revenue of $84,577 off a $660,242 handle. 

In terms of limited event wagering operators, TP Racing claimed the top spot with $42,575 in revenue from $920,621.

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