Arizona’s sportsbooks managed to set a new handle record in March, as the Arizona Department of Gaming (ADG) has reported wagers during the month came in just shy of $691m.
March’s $690.9m handle is a 40% improvement on February’s $491.7m. Retail sportsbooks achieved a $3.33m in wagers during the month (February: $3.35m), while online sportsbooks recorded a $687.6m handle (February: $488.3m).
Gross revenue for the month came in at $37.2m, a 52% increase on the previous month’s $24.4m, with online sportsbooks earning most of that revenue share with $37.1m (February: $23.6m).
Promotional spending for the Grand Canyon State’s sportsbooks in March came in at $18.56m, slightly higher than the previous month’s $17.57m. As a result, adjusted revenue for the month came in at $18.67m (February: $6.87m).
With Arizona’s 8% tax rate on retail sportsbooks and a 10% tax rate on online sportsbooks, March’s wagering saw $1.9m collected by the state for its coffers (February: $670,685).
While the ADG doesn’t break down its handle or revenue by sport wagered on, the state department’s Director, Ted Vogt, did note that the NCAA March Madness basketball tournament helped produce the record-setting numbers for the Grand Canyon State.
Vogt commented: “March was an exciting month for Arizona event wagering, with major sporting events like NCAA’s March Madness helping set a single month event wagering handle record.
“I look forward to seeing how the industry continues to develop as we finish out the first year of legal event wagering in the coming months.”
Per online operator, DraftKings led the way in March handle with $230.2m (February: $131.6m), reporting a revenue of $6.66m.
FanDuel was next ($184.6m handle, $12.9m revenue), followed by BetMGM ($133.7m handle, $10.3m revenue), Caesars ($95.3m handle, $4.8m revenue), and Barstool Sports ($19.1m handle, $807,640 revenue).
Per retail sportsbook, FanDuel saw $2.87m in wagers with a revenue of $84,346, while Caesars reported a handle of $458,758 and $45,116 in revenue.
