Sportsbooks in Arizona accept record $760M in March wagers

Arizona Sports Betting March
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Arizona reported historic results in March for its online and retail sports betting market.

According to data provided by the Arizona Department of Gaming, bettors in the Grand Canyon State wagered a monthly record $759.8 million in March, a 17.9% increase year-over-year. The results surpassed November 2023’s previous record of $713.6 million.

Arizona has accepted $16 billion in bets since wagering went live in September 2021.

Arizona’s licensed sportsbooks

FanDuel closed as the top operator in Arizona for both handle and gross revenue.

The Flutter Entertainment-owned brand reported a $265.1 million online handle in March, the highest monthly handle ever for an Arizona sportsbook.

FanDuel paid out $240.7 million in online winnings to players in March for a 9.2% hold with adjusted gross revenue reaching $23.7 million. The sportsbook posted a $1.7 million retail handle in March with adjusted gross revenue closing at $294,369.

Rival DraftKings finished March with the second-highest handle and revenue.

The Boston-based operator posted a $255.3 million online handle during the month with winnings paid to players at $236.5 million. DraftKings generated $18.1 million in online adjusted gross revenue in March while its retail operations collected $257,481 in revenue. It accepted $2.1 million in retail wagers in March, Arizona’s highest retail handle.

BetMGM rounded out the top three with the operating reporting a $93.9 million online handle in March with winnings paid out to players at $86.3 million. The MGM Resorts and Entain joint venture generated $7.3 million in adjusted gross revenue. Its brick-and-mortar operations posted a $650,512 handle in March with adjusted gross revenue at $34,517.

One of the newest operators in Arizona’s market, ESPN Bet, reported satisfactory results. In March, the sportsbook reported a $26.9 million handle with winnings paid at $25.2 million. It reported $1.4 million in free bets and promotional credits deductions in March.

Desert Diamond, an operator exclusive to Arizona, accepted $6.4 million in wagers in March but paid out $6.4 million in winnings. The operator failed to generate March revenue.

SaharaBets, another exclusive Arizona sportsbook, reported a $1.3 million online handle in March, which generated $108,134 in adjusted gross revenue.

New operator in Arizona

Last month, Fanatics Sportsbook went live with wagering in the Grand Canyon State through a partnership with the Tonto Apache Tribe, the owner of Mazatzal Hotel & Casino. Fanatics has launched in Arizona after its $225 million takeover of PointsBet’s U.S. business. PointsBet had yet to secure market access in Arizona before the transaction.

The Tonto Apache Tribe had previously partnered with TwinSpires before it closed in 2023.