Arizona Sports Betting Revenue Hits Record High in December
LISTEN TO THIS ARTICLE:Arizona saw its gross sports betting revenue reach a new monthly high in December despite the fact the handle fell month-on-month.
Gross revenue for December was $66.1 million, up 22.1% from the $54.4 million of the previous year and also 62.4% higher than November’s total revenue. The vast majority of the revenue, $65.2 million, was from online betting and just $625,986 came from retail sportsbooks. An additional $240,604 came from limited event wagering (LEW) operators.
Total Wagers Lower than November
The revenue came from a total of $693.3 million in bets placed during December. While this was a 21.1% increase in December 2022, it was lower than the record $713.6 million that was bet in November 2023.
A total of $685.1 million was bet online while $6.4 million was bet in retail sportsbooks and $1.8 million was bet with LEW operators. There was also a total of $17.8 million in free bets and promotions credits awarded in December, almost all of which were online.
Therefore, the adjusted gross sports betting revenue for December was $48.3 million, which was a new record. It was up 30.3% on December 2022 and up 139.4% on November 2023’s $20.3 million.
Online wagering brought in $47.5 million of the adjusted revenue, retail brought in $621,286, and $240,604 came from LEW operators. These figures mean that sports betting in Arizona brought in $4.8 million in tax, including $4.7 million from online betting, $49,703 from retail betting, and $19,248 from LEW.
FanDuel Leads the Way
FanDuel was December’s online leader in Arizona in quite some way. It saw $23.7 million in adjusted revenue from a handle of $236.3 million. In second place was DraftKings and Crown Gaming with $13.8 million from $228.5 million and in third place was the MGM Resorts owned, BetMGM with $6.1 million from $82.7 million.
There are only two retail operators in Arizona. DraftKings and Crown Gaming led with $361,037 in adjusted revenue from a handle of $2.7 million and FanDuel saw revenue of $260,248 from $2.1 million in bets.
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