The state of Arizona saw a significant increase in sports betting activity in the month of March. The total amount wagered reached a record-breaking $688 million, surpassing the previous record set in January. Online betting accounted for the majority of the bets placed, with $687.7 million being placed online and only $3.3 million at retail sportsbooks.
Players were quite successful with their bets, winning a total of $652.1 million. This resulted in a gross revenue of $37.2 million before accounting for free bets, a significant increase from January’s $24.4 million. After deducting $18.6 million worth of free bets and promotional credits, the taxable revenue amounted to $18.7 million, marking a 171.0% increase from February.
The state also benefited financially from sports betting, collecting $1.9 million in tax revenue during the month. The top three operators in terms of wagering volume were DraftKings, FanDuel, and BetMGM, with DraftKings leading the way with $230.2 million in online bets. FanDuel generated the highest gross revenue of $13.0 million, while BetMGM followed closely behind with $10.3 million.
The Arizona Department of Gaming’s director, Ted Vogt, expressed excitement about the progress of the sports betting industry in Arizona. He highlighted the impact of major sporting events like NCAA’s March Madness in contributing to the record-breaking month. Vogt looks forward to the continued development of the industry as Arizona finishes its first year of legal event wagering.
| Operator | Total Wagers (Online) | Total Wagers (Retail) | Gross Revenue (Online) | Gross Revenue (Retail) |
|---|---|---|---|---|
| DraftKings | $230.2m | – | $6.7m | – |
| FanDuel | $184.6m | $2.9m | $12.9m | $84,347 |
| BetMGM | $133.7m | – | $10.3m | – |
