Arizona’s October sports betting handle sets new state record

Online sports betting leads the charge, but the state sees a notable decline in adjusted gross receipts compared to last year and September.

US.- Arizona’s sports betting handle for October reached $791.2m in online wagers, surpassing the state’s previous record of $759.8m set in March 2024 by 4.1 per cent. The figure also marks a 22.1 per cent increase compared to October 2023 and an 8.1 per cent rise from September 2024. Retail betting, while a smaller share, contributed $6.8m to the overall handle.

Despite the strong handle performance, the state experienced a decline in adjusted gross receipts, which totalled $53.8m, down 6.9 per cent from the previous year’s $56.9m. Compared to September’s record of $77.4m, October’s figure fell by 31.5 per cent.

Almost all of the adjusted gross receipts were driven by online betting, which contributed $53.6m. In stark contrast, retail betting only generated $205,230 in receipts. The state’s overall hold for October was 6.80 per cent.

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After excluding $30.2m in free bets, the adjusted gross receipts stood at $23.6m, a 28.5 per cent drop from October 2023 and 40.6 per cent lower than September’s $39.7m. Based on the adjusted figure, the hold was 2.98 per cent. On the tax front, Arizona collected $2.4m in privilege fees, with nearly all of it, $2.39m, coming from online operators.

Looking at individual operators, FanDuel again led the Arizona market in terms of revenue. For October, combined online and retail revenue topped $21.7m from $252.5m in bets, resulting in an 8.59 per cent hold. This figure includes free bets.

DraftKings remains second despite taking more bets. It posted $15.1m in revenue from a $261.9m handle, leaving a 5.77 per cent hold. BetMGM followed in third with $5.7m off $99.5m, meaning a 5.73 per cent hold.