The Arizona sports betting market continues its upward trajectory, showcasing remarkable growth in October 2022. According to the Arizona Department of Gaming (ADG), the sports betting handle surged by 13% compared to September 2022 and an impressive 27.3% when contrasted with October 2021. As the state’s sports betting industry thrives, this article explores the latest statistics, revenue figures, and key players driving the expansion.
Robust Growth in Arizona Sports Betting:
In October, Arizona’s sports betting handle reached a noteworthy $618 million, marking a significant 13% increase from the previous month and a remarkable 27.3% surge compared to the same period in the previous year. While the handle demonstrates strong momentum, revenue figures tell a nuanced story. Arizona’s revenue for October decreased to $48 million, accompanied by a hold of 7.7%, a decline of over 3% from September. Nonetheless, revenue exhibited a notable 24% growth when juxtaposed with October 2021. Moreover, the state collected $2.9 million in privilege fees, contributing to a total tax revenue gain of nearly $27 million since the launch of legal sports betting in September 2021.
Dominant Players and Mobile Betting:
Among the leading sports betting operators, DraftKings and FanDuel stood out with significant contributions. DraftKings recorded a handle of $214 million, generating $10 million in revenue. FanDuel followed closely with a handle of $194 million, resulting in revenue of $19.9 million. Notably, FanDuel emerged as the top retail shop with a handle of $2.8 million. BetMGM, on the other hand, achieved success in both online and retail betting, amassing $93 million in online bets and $2.3 million through retail, leading to a profitable outcome of over $10 million. Mobile betting dominated the landscape, accounting for a substantial 99% of the total handle in Arizona during October.
ADG’s Perspective and Future Prospects:
Ted Vogt, Director of ADG, expressed optimism about Arizona’s flourishing sports betting industry. The impressive growth, with a substantial increase of $132 million wagered compared to October 2021, highlights the industry’s resilience and potential for further expansion. Vogt anticipates the impact of major sports tourism events, such as Super Bowl LVII and the Phoenix Waste Management Open, on the state’s sports betting landscape in the upcoming months.
Jackpocket’s Innovative Approach:
In a parallel development, Jackpocket, a prominent lottery company, has unveiled its partnership with Circle K to introduce an innovative lottery app in Arizona. This collaboration allows lottery enthusiasts to conveniently participate in online games, including Powerball, Mega Millions, The Pick, Fantasy 5, and Pick 3. Through the user-friendly app, players can place ticket orders, monitor results, and receive prizes up to $599. To mark its Arizona launch, Jackpocket is offering new players their first lottery ticket for free using the code HEYAZ at checkout, demonstrating the company’s commitment to engaging and rewarding its user base.
Arizona’s sports betting sector continues its impressive growth trajectory, with a robust increase in betting activity during October 2022. The industry’s expansion, fueled by key players like DraftKings, FanDuel, and BetMGM, underscores its resilience and potential for further success. Moreover, the innovative partnership between Jackpocket and Circle K introduces a convenient and modern approach to lottery participation, aligning with the evolving landscape of gaming and entertainment. As Arizona’s sports betting landscape evolves, players, operators, and industry stakeholders can anticipate a dynamic and engaging future, marked by growth, innovation, and enhanced user experiences.