Arizona Hits Record Sports Betting Handle for December 2021
Betting revenue for December 2021 in Arizona hit a record amount just shy of the $500 million mark.
According to a statement released by the Department of Gaming, December’s handle of $499.2m surpassed the record set in October 2021 ($486.1 million), although there was a 23.1% fall in gross revenue. The statement also revealed that the state had generated a little below $1.75 billion in sports wagers since online sports betting went live in September 2021.
How the Handle Was Generated
The figure came with a $38.6 million loss in gross revenue. Bonus offers, including free bets and credits, accounted for almost $21.3 million of the entire loss amount.
State taxes engulfed $17.3 million, 45.9% lesser than the north of $31 million posted for November 2021. Online mobile wagering was primarily responsible for the amount, as retail sports betting generated 8% of the entire December’s tax remittance.
Of the entire amount, the online handle was $494.5m, while $4.7m came from retail sportsbooks. Winnings paid out for successful bets were in a similar bracket. Bettors won $454.9m from online bets and $4.5 from retail staking.
Arizona Now Among the U.S. Top States with Online Sports Betting Markets
For a state that went live with online sports wagering in September, these revenue figures have solidified Arizona’s place among the top 10 U.S. states with vibrant online betting markets. It joins the ranks of top states like New Jersey, Nevada, Illinois, Pennsylvania, Michigan, Indiana, Colorado, Virginia, and Tennessee in crossing the $100 million mark.
For 2021, the U.S. sports wagering totaled almost $57.8 billion, more than double the $21.5 billion posted for 2020. These statistics are not surprising with the COVID-19 pandemic and the lower number of states with a legalized online sports betting market.
From the entire $57.8 billion, $562.3 million was remitted as part of tax obligations and $800 million as deductions from promotional offers, including free bets and credits. All of these are higher from the entire period of June 2018 - December 2020, when the first state to legalize online sports wagering, Nevada, went live.
How the Operators Fared
DraftKings, BetMGM, and FanDuel led the way in amassing a considerable chunk of the handle across legal sportsbooks in Arizona. These operators posted more than $100 million each with DraftKings coming in at $146 million. FanDuel placed second with $128.5 million, and BetMGM received $103.8 million in bets.
Caesars followed closely, posting $73.9 million, with a 16.4% increase in profit from November. Barstool and WynnBet rounded up the table, reporting revenues of $20.6 million and $14.3 million, respectively.
DraftKings also ranked first for gross revenues, raking in $11.0 million, FanDuel following closely with $10.7 million, and BetMGM with $8.8 million.
DraftKings spent almost $30 million in free bet awards for promotional offers, FanDuel with $20.2 million in bonuses offer, and BetMGM says 86% of its gross revenue went into its enticing bonus offers.
With new operators, SuperBook and Fubo launching operations a week before Christmas and more operators on the way, the future of Arizona online sports betting is projected to grow bigger.
Unsubscribe at any time. We promise we are spam free and we will never share your details with a 3rd party.