In seven consecutive times, including four straight months to end the time, the monthly handle exceeded$ 500 million. The combined net gambling profits for the year from bookmakers was$ 482.9 million, fine for an 8 % hold.
A month filled with features of sports betting
Arizona sports bettingAlthough those first four months were just a practice for 2022, they may have become legal in September 2021. In The Grand Canyon State, there are currently 18 online casinos applicable to punters.
Arizona bettors began operations in 2022, producing the state & rsquo’s first-ever handle of more than$ 500 million in January. February barely missed that mark, but March set a record at$ 691 million, which is still in effect today & ndash, that is, until this March & rsquo, s numbers are made public.
Wagers predictably declined until football season began, when September started a four-month run above $500 million. September also had the single highest revenue total, with its 10.5% hold yielding $56.4 million in gross gaming revenue (GGR).
December’s $572 million handle then wrapped up the year, putting the total sports betting handle above $6 billion.
Arizona sports betting tackle by month in 2022
|Total||$6,036,844,929||$482,932,558||8 % on ordinary||$28,914,691|
FanDuel is surpassed by DraftKings in control but no GGR.
DraftKings Arizonaand FanDuel were by far the most popular casinos in Arizona. Throughout the year, both competed for the major quarterly handle, with DraftKings winning for a period of seven months.
As a result, DraftKings led the state in total handle with $1.95 billion. FanDuel ($1.83 billion) was second, joined at 10 figures by BetMGM Arizona ($1.08 billion).
Caesars Arizona ($684.8 million) finished fourth, with the four sportsbooks accounting for 91.7% of the total handle in the state.
Annual GGR produced a different order on the podium. FanDuel Arizona ($185.8 million) generated over 38% of the state’s total GGR, well ahead of second-place BetMGM ($110.8 million)
Due to two months of GGR below$ 3.4 million and a fourth month in the red, DraftKings($ 108.3 million ) dropped to next. Caesars & Rsquo’s$ 45.1 million annual GGR.
The position receives almost$ 29 million.
Arizona sportsbooks are required by state law to pay taxes of 8 % of retail and 10 % of online profits, which are adjusted after free bets and promotional credits. The state & rsquo’s cut was just 6 % of GGR, or$ 28.9 million, as a result of these deductions. & nbsp,
Kansas, Maine, Colorado, Ohio, and West Virginia are additional states with 10 % sports betting income. Indiana, Michigan, Iowa, and Nevada are the four state with the lowest tax rates, respectively.
While this is the case in many other states, such as Illinois ( 15 %), Maryland ( 16 %), Tennessee ( 20 %), and Pennsylvania( 36 %). & nbsp,
The highest in the country are Rhode Island( 51 %), Delaware( 50 %), New York ( 51 %), and New Hampshire( 52 %). In the case of New York & rsquo, that generated more than$ 690 million in state tax revenue. ( Total handle in 2022 was$ 16.3 billion. )
In Arizona, the state & rsquo general fund receives all tax revenue from sports betting and is used to fund programs like education, health care, corrections, child safety, and other state agencies.
Arizona establishes itself as one of the best six sporting betting markets in the US.
Arizona regularly delays the release of its activities wagering data for the rest of the country. The rush was worthwhile for Arizonans. Arizona produced the sixth-highest control in the US in its first full year of sports betting.
With a$ 16.3 billion handle, New York & rsquo led the country, almost 49 % ahead of New Jersey & rosquo’s$ 0.9 billion. The top five were rounded out by Illinois($ 9.8 billion ), Nevada ($ 8.7 ), and Pennsylvania($ 7.25 billion ).
Regarding the following rivals, Arizona came in far ahead of Colorado ( 5. 2 billion ), Virginia ( 4. 9 ) and Michigan( 4.8 billion ).