By Christopher Boan | | 3 mins
Arizona Sports Betting Handle in March Nearly $700 Million, Shatters State Record
The Arizona sports betting handle during March shattered the state’s record, with $690.979 million in wagers and $18.668 million in gross wagering receipts.
The previous state handle record of $563.7 million was set in January. March’s handle was a 40.5% increase from the $491.6 million the Arizona Department of Gaming reported for February.
March’s gross receipts were nearly three times more than the $6.8 million in February, helped by the performance of the Arizona Wildcats men’s and women’s basketball teams in the 2022 NCAA tournaments.
A total of $1.707 million in sports betting taxes were paid out during March, up from the $670,685 that the state generated in February.
Ted Vogt, who serves as the director of the ADG, said in a department press release March’s figures represent a bright future for sports betting in the state.
“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 handle record,” Vogt said. “I look forward to seeing how the industry continues to develop as we finish out the first year of legal event wagering in the coming months.”
Arizona Sports Betting, March vs. February
What Stands Out From March’s Report
One thing that stands out from the third month of the year in the Grand Canyon State is the reemergence of DraftKings Sportsbook as the No. 1 operator in Arizona in terms of handle.
The Boston-based operator, which ranked atop the state in handle each month between September and January, fell to No. 2 behind FanDuel Sportsbook in February — with the former bringing in $142.445 million, while DraftKings brought in $131.653 million.
DraftKings lapped the field in March, however, with a record-high $230.235 million in wagers during the month, followed by FanDuel Sportsbook ($184.579M), BetMGM ($133.747M), Caesars Sportsbook ($95.311M), Barstool Sportsbook ($19.102M) and WynnBET ($9.873M).
In total, DraftKings Sportsbook has raked in $1.094 billion in wagers since sports betting in Arizona launched Sept. 9 — well ahead of FanDuel Sportsbook ($892.538 million) in the state’s sports betting marketplace.
DraftKings Sportsbook became the first Arizona sports betting operator to clear the $1 billion mark during March.
Where Arizona’s Sports Betting Market Stands Nationally
Arizona’s $690.9M handle ranks sixth nationally during March, behind New York ($1.644B), New Jersey ($1.120B), Illinois ($971.278M), Nevada ($863.283M) and Pennsylvania ($714.976M).
The Grand Canyon State ranked ahead of Colorado ($505.6 million), Michigan ($477.96 million), Indiana ($476.8 million) and Virginia ($469.4 million) — which were the other four states nationally above $400 million in handle in March.
Arizona’s sports betting market has now raked in $3.489 billion in handle since September, showing the state’s wagering scene can contend with its largest peers in the months ahead.