Arizona’s sportsbooks fell just short of the $500m handle mark in December 2021, but did manage to set a new monthly handle record, according to PlayAZ.com.
Benefitting from ‘good timing and an enthusiastic reception’, Arizona’s sportsbooks raked in $499.2m in December, an increase of 7% from $466.7m in bets generated in November, according to official data from the Arizona Department of Gaming.
December’s figures also broke the monthly record set in October 2021, which stood at $486.1m, and the average daily betting handle was at $16.1m over the 31 days of the month.
“The NFL season kept wagering high even as sportsbooks settled into something resembling normal after a surge of promotional spending early on,” commented CJ Pierre, lead analyst for PlayAZ.com.
“Importantly, bettor enthusiasm remains high and Arizonans will become more comfortable with less conventional products such as in-game betting. That should help keep activity brisk through March Madness.”
The Grand Canyon state’s sportsbooks generated $39.8m in gross revenue, which was down 23% from $51.4m in November. Taking away the $21.3m of promotional expenses and the state taxed $17.3m in gross event wagering receipts, sportsbooks produced $1.7m in taxes for the state.
“New York broke many of Arizona’s records after it debuted mobile sportsbooks, but that shouldn’t diminish just how well the state has performed so far,” added Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayAZ.com.
“We expected Arizona to do well when sports betting launched in September, but the market continues to match the highest expectations with results that rival more mature markets, some with much larger populations.”
The state’s online sportsbooks dominated the market, taking 99.1% of the monthly total handle, with retail sportsbooks taking just 0.9%.
In terms of operators, DraftKings were the big winners, taking $146m in bets in December, down slightly from $148.7m in November.
FanDuel moved closer to its rival in terms of revenue, taking $131.1m in wagers, including $128.5m online. BetMGM and Caesars made up the rest of the handle.
“Arizona is still a very young market, and no launch is completely smooth,” Pierre concluded. “But most of the state’s operators are off to a great start, even as promotional spending and other early-market hallmarks begin to settle.”