Arizona Sets New Sports Betting Record in November

Arizona's sports betting scene reached new heights in November as players enthusiastically placed bets totaling $713.6 million. This marked a significant milestone, surpassing the previous record of $690.0 million set in March 2022. It also demonstrated a substantial increase of 15.7% compared to November 2022 and a remarkable 10.1% surge from October 2023.

The majority of bets, a staggering $705.7 million, were placed online, while retail sportsbooks accounted for $6.1 million in wagers. Additionally, limited event wagering operators in Arizona contributed $1.8 million to the overall handle.

Licensees paid out $671.3 million in winnings to players, while free bets and promotional credits amounted to $20.5 million in November. Despite the impressive handle, the revenue showed a stark contrast, totaling $20.3 million. This represented a significant drop of 45.9% compared to November 2022 and a 38.5% decline from October 2023. The breakdown showed that online betting revenue reached $19.9 million, retail revenue stood at $338,476, and limited event wagering contributed $96,986.

November saw tax revenue of $2.0 million, primarily stemming from online wagering, with minimal contributions from retail and limited event wagering operators.

Among online operators, DraftKings and partner Crown Gaming led the way, with online revenue reaching $9.7 million from $229.4 million in wagers. FanDuel processed a total of $249.3 million in online bets but generated $7.7 million in revenue, placing it behind DraftKings. Bally Interactive was the only other online operator to surpass $1.0 million in revenue, with $1.9 million from $91.7 million in internet wagers.

In the retail sector, only four operators reported positive revenue. FanDuel emerged as the leader, with $115,060 in revenue from a $1.9 million handle, followed closely by Caesars with $111,979 from $1.1 million. BetMGM secured the third spot with $84,577 in retail revenue from a $660,242 handle. In limited event wagering, TP Racing took the top spot with $42,575 in revenue from $920,621.

The record-breaking November handle in Arizona indicates the growing popularity of sports betting in the state, even though revenue did not mirror the same level of growth.