In February 2016, consumer spending in Arizona on sports betting amounted at $637.5m, an increase of 4.6% compared to the previous year. Gross revenue increased by 55.9%.
The handle for February is a long way ahead of the $609.3m wagered in the same period last year. It was still 9.8% below the $706.4m bet in Arizona for January.
In Arizona, $631.22m of the total bet during the month was placed online. $4.6m in retail sportsbook locations. Additional $1.6m of the total was bet with operators that offer limited event betting (LEW).
The gross revenue from event betting for February was $53.0m. It was an increase from the $34.0m of February 2023, but still 23.5% below January’s record $69.3m.
Retail wagering generated $290,523 in gross revenues, while LEW operators only received $64,746.
In February, adjusted gross revenues top $28.0m
After accounting for promotions and free bets, the adjusted monthly figures are calculated.
Online operators distributed $25.1m in free bets, promotional credits and other bonuses during the month of February. Retail sportsbooks and LEW operators did not offer any such promotions.
After subtracting them, the adjusted gross revenues reached $28.0m. This is up 72.8% compared to last year, but still 39.4% below $46.2m from January. Total includes $27.6m in online betting, but the retail wagering of $290,523 remains unchanged.
The players won $583.2m in the last month. This includes $577.1m on-line, $4.4m at retail, and $1.6m through LEW operators.
Arizona taxed sports wagering $2.8m. The online wagering market, taxed 10%, generated the majority of these revenues, while retail betting and LEW contributed only a small amount.
FanDuel is still the leader in Arizona
FanDuel is the leader in Arizona’s online gaming sector. In February, FanDuel reported a gross profit of $19.7 million from total wagers of $230.3 million.
DraftKings, along with Crown Gaming partner BetMGM, came in second place on the list of revenue earners.
DraftKings, along with Crown Gaming, led the way in retail, generating $147.482 of revenue from a $1.7m total. FanDuel, on the other hand, had a handle of $1.8m, but it paid out more in winnings than that, so was unable turn any profit.
BetMGM, the other operator that reported retail revenues in February, posted $143,041 dollars. The wagers totaled $350,168. Betfred offers retail betting to Arizona.
Charley’s Sports, the LEW leader, reported a gross profit of $24,220 on wagers totaling $142,248.
Fans enter the fray
This month, the news that Fanatics will also be launching in Arizona means more competition for operators in Arizona.
Through a partnership between the Tonto Apache Tribe and Fanatics, this game is available in Arizona. The initial offering is online, but plans have been made to create a retail outlet inside of the Mazatzal Casino & Hotel this summer. Tonto Apache owns and operates the resort.
The state will only include the statistics for April when they are published. Arizona releases its statistics later than most other states.
