In October 2023, Arizona witnessed a remarkable surge in sports betting activity, with bettors collectively placing a staggering $648.2 million in wagers.
This represents a substantial 4.8% increase when compared to the same month the previous year.
Moreover, it showcases a remarkable 6.2% growth compared to September, highlighting the burgeoning enthusiasm for sports betting in the state.
The October 2023 handle stands as the second-highest in Arizona’s history, trailing only the $691 million in wagers accepted back in March 2022.
This remarkable milestone underscores the sustained growth and popularity of sports betting in the region.
Notably, nearly 99% of the betting turnover in Arizona was attributed to mobile betting platforms, amassing a significant $5.4 million.
This mobile dominance is a continuing trend, marking the seventh time this year that betting turnover has exceeded the impressive $600 million mark.
Leading the charge in mobile gaming turnover were industry giants DraftKings and FanDuel, both reporting nearly identical figures of around $220 million in wagers during October.
FanDuel also emerged as the prominent retail bookmaker, securing revenue of $2.1 million.
While bettors enjoyed a collective windfall of $591.3 million in October, this resulted in adjusted gross event wagering receipts before accounting for free bets amounting to $55.6 million.
Although slightly lower than September’s figure of $59.7 million, it underscores the sustained profitability of the sports betting industry in Arizona.
Throughout the month of October, free bets and promotional credits reached a total of $22.6 million, primarily originating from online operators.
After accounting for these free bets, the adjusted gross event wagering receipts settled at a respectable $33.0 million, a slight improvement over the previous month.
In terms of contributions to the state’s coffers, privilege fees collected in October amounted to approximately $3.29 million.
This financial influx further demonstrates the benefits that legalized sports betting brings to Arizona’s economy, as it continues to thrive and expand in the months ahead.