Arizona continues to demonstrate its prowess in the sports betting arena, with the state’s handle soaring to an impressive $648.2 million in October 2023, as revealed by the Arizona Department of Gaming. This represents a noteworthy 4.8% increase compared to October 2022 and a commendable 6.2% rise from September 2023, underscoring the state’s vibrant sports betting market. Mobile betting, accounting for almost 99% of the handle, remains a dominant force in Arizona’s gaming landscape.
Handle Growth:
The total sports betting handle in Arizona for October 2023 reached $648.2 million, showcasing a robust 4.8% growth compared to the same period in 2022. This surge in handle activity highlights the sustained momentum and popularity of sports wagering in the state.
Mobile Betting Dominance:
A significant majority, nearly 99%, of the sports betting handle is attributed to mobile betting platforms. The widespread adoption of mobile wagering platforms underscores the convenience and accessibility that players prioritize in the evolving landscape of sports betting.
Revenue and Adjusted Gross Receipts:
While revenue for October amounted to $55.59 million, reflecting a 7% decrease from September ($59.7 million), it is crucial to note that free bets and promotional credits totaled $22.6 million, predominantly from online operators. Adjusted gross event wagering receipts, after factoring in these free bets, reached $33 million. The state collected $3.29 million in privilege fees.
Key Operator Performances:
DraftKings reported a substantial handle of $220.62 million, generating $12.75 million in revenue.
FanDuel closely followed with a handle of $220.30 million and revenue of $11.59 million.
BetMGM contributed significantly with $90.5 million in bets and $5.38 million in revenue.
Caesars Sportsbook posted a handle of $59.1 million, securing $1.82 million in revenue.
Quechan Indian Tribe’s Casino Renovation:
In November, the Quechan Indian Tribe celebrated the completion of its multi-year renovation of Paradise Casino in Yuma, Arizona. The upgraded venue features a new exterior with nightly light shows, expanded gaming spaces, additional slot machines and blackjack tables, betting kiosks, and a new coffee shop – Paradise Kaa’fe, offering Starbucks coffee.
Arizona’s sports betting landscape continues to thrive, with a robust handle, mobile betting dominance, and notable operator performances contributing to the state’s dynamic gaming environment. The strategic renovations by the Quechan Indian Tribe further highlight the commitment to enhancing the overall gaming experience for patrons in the region. The state’s embrace of sports wagering showcases its adaptability to evolving consumer preferences and sets the stage for sustained growth in the ever-expanding world of online sports betting.