Arizona sportsbooks mark record during debut month
Legalised in April 2021, the state’s online and retail sportsbooks brought in nearly $300m in wagers in September.
US.- Arizona’s sportsbooks brought in nearly $300m in wagers during its debut month in September. The state has set a record for the busiest sports betting first month.
Legalised in April 2021, Arizona’s online and retail sportsbooks accepted $291.2m in wagers in September, according to data released by the Arizona Department of Gaming.
The busiest first-month launch record was formerly $131.4m set by Tennessee during November 2020.
From the total $291.2m in wagers, $2.6m was generated by retail sportsbooks and $288.1m was generated via online sportsbooks.
In its first month, DraftKings reported $97.7m in wagers, which represent $12.7m in gross revenue. FanDuel was responsible for $57.7m in online wagers as well as $1.9m in retail bets.
The state’s sportsbooks generated a total of $32.3m in gross gaming revenue from September 9 through September 30, which is also a record.
This generated $31.6m in net revenue. After $31.2m in promotional credits, the state taxed $392,418 in gross event wagering receipts, producing $31,293 in privilege fees for the state.
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayAZ.com said: “Football is the straw that stirs the sports betting drink, so launching ahead of the NFL’s first game and with college football going full tilt was critical.
“Most of the country’s best-known sportsbook brands jumped in early, too. And with nearly a full month to operate, it made for a remarkable debut.
“Local sports matter and a strong NFL team matter more than most, so the Cardinals’ historic start was a godsend for sportsbooks. Arizona’s operators are aiming to engage new bettors and quickly grow their customer base. An enthusiastic fan base makes that job easier.”
C.J. Pierre, lead analyst for PlayAZ.com added: “Arizona has enormous potential as a market, but it is encouraging for the industry to see such a strong debut. Setting a record in the first month would qualify as getting the market off on the right foot. The next question is how quickly the state can ramp up and compete with more established markets. It appears that won’t take long.”
See also: Desert Diamond Casinos opens sportsbooks in Arizona
