The state of Arizona finally reported their sports betting numbers from March last week, and they showed tremendous growth.
In March Arizona sportsbooks reported $691 million in betting handle. That was up 40 percent from the $491.7 million betting handle reported in February.
In a release that accompanied the numbers Arizona Department of Gaming Director Ted Vogt said, “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 record.”
Sports betting operators reported a 5.6 percent hold in March which translated to $38.9 million in revenue. That revenue number was a near 52 percent increase on the $25.6 million reported in February, but failed to surpass the record $51.4 million in revenue reported in November, 2021.
Thanks to $18.6 million in promos handed out by the sports books the taxable revenue in March was decreased to $18.7 million. The Arizona tax collector ended up receiving $1.9 million.
Not surprisingly mobile wagering dominated sports betting in Arizona during March. In the month $687.7 million was wager using mobile betting apps, which accounted for 99.5 percent of the entire handle.
From the 18 online sportsbooks operating in the state, DraftKings Sportsbook led the way in March with a $230.2 million handle. DraftKings reported a 3.1 percent hold for $7.2 million in revenue.
FanDuel Sportsbook reported a $187.4 million handle but led the state with $13.4 million in revenue thanks to a 7.2 percent hold. Rounding out the Top 3 was BetMGM Sportsbook with a $133.7 million handle and a 7.7 percent hold for $10.3 million in revenue.
Two retail sportsbook that opened in March reported $3.3 million in handle. Those two retail sportsbooks were the Footprint Center’s FanDuel Sportsbook which reported $2.9 million, and Chase Field’s Caesars Sportsbook which reported $458,758. With baseball season ramping up and the NBA season winding down it is expected that Chase Field’s sportsbook will overtake Footprint Center over the next few months.
Two more retail sportsbooks are expected to open later this year, including a BetMGM Sportsbook at State Farm Field, and a DraftKings Sportsbook at TPC Scottsdale.