Arizona Sets New Sports Betting Handle Record in November

Arizona's sports betting scene reached new heights in November, as players in the Grand Canyon State wagered a staggering $713.6 million. This impressive figure marked a significant milestone for Arizona, surpassing the previous record of $690.0 million set in March 2022. It also represented a substantial 15.7% increase from November 2022 and a notable 10.1% rise from October 2023 when the handle was $648.2 million.

Of the total amount wagered, a substantial $705.7 million was bet online, while $6.1 million came from retail sportsbooks. Limited event wagering operators in Arizona contributed an additional $1.8 million to the total betting volume.

Despite the record-breaking handle, November's revenue didn't follow the same upward trend. Licensees paid out $671.3 million in winnings to players, leaving only $20.3 million in adjusted gross revenue for the month. This represented a stark 45.9% decrease compared to November 2022's revenue of $37.5 million and a 38.5% decline from October 2023's revenue of $33.0 million. Online betting revenue stood at $19.9 million, retail revenue at $338,476, and limited event wagering revenue at $96,986.

In the online market, DraftKings and partner Crown Gaming emerged as leaders, generating $9.7 million in revenue from $229.4 million in wagers. FanDuel, while processing more wagers at $249.3 million, could only post $7.7 million in revenue, securing the second position. Bally Interactive also performed well, with $1.9 million in revenue from $91.7 million in internet wagers.

Among retail operators, FanDuel led the pack with $115,060 in revenue from a $1.9 million handle. Caesars followed closely with $111,979 from $1.1 million, and BetMGM claimed third place with $84,577 from a $660,242 handle. In the limited event wagering category, TP Racing secured the top spot, generating $42,575 in revenue from $920,621.