Arizona sports betting handle reached $637.5Million for February 2024. This figure was up 4.6% compared to February last year.
Arizona Sports Betting Handle
However, it was down 9.8% compared to January 2024. Overall online spending was recorded at $631.2m. Retail sportsbooks took $4.6m and limited event wagering (LEW) operators took $1.6m.
According to the Arizona Department of Gaming, operators made $53m in gross revenue in February 2024. This is up 55% from the same month last year. But, this is down 23.5% from January’s record of $69.3m.
Of the total gross revenue, $52.7m came from online betting. $290,523 was generated from retail sportsbooks. with LEW operators registering $64,746.
Online sportsbooks also reported handing out over $25m in free bets and promotional credits during February. After deduction, the adjusted gross revenue was $28m, . This is up 72.8% year-on-year but 39.4% behind January.
In terms of winners, customers landed a total of $583.2m. Of this, $577.1m came from online bettors. $4.4m came from retail and $1.6m with LEW operators.
The state of Arizona collected just under $3m in tax – with the vast majority coming from online sports betting. Currently, the tax rate is set at 10%.
Online Sports Betting In Arizona
Online casino gambling is still illegal in the Copper State but residents have been able to place sports bets since September 2021. Citizens have certainly enjoyed betting on sports in the two-and-a-half years since it was legalized.
Although the figures haven’t been released for March 2024, they could well topple the sports handle recorded in February. Especially if March Madness proved as fruitful as it has in other states across the US.
Looking further down the line, there are some huge sporting events still to come throughout the rest of the year. F1, NBA playoffs, Stanley Cup playoffs, US Open (golf and tennis) and the Olympic Games are some of the most notable events which will attract bettors.
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