. March Madness Helps AZ Sportsbooks Reel In Over $690 Million For Record-Breaking March

March Madness Helps AZ Sportsbooks Reel In Over $690 Million For Record-Breaking March

Written By C.J. Pierre on June 6, 2022Last Updated on January 30, 2023

In March, wagering at Arizona casinos increased to more than$ 690 million. The first four sessions of the NCAA Tournament contributed to the wave.

It was the best month for sports gambling in the position andrsquo. On the first quarter, which brought in a staggering$ 1.74 billion in bet, it closed the book.

According to the statistics, Arizona is competing with the other state in a popular sports gambling quarter.

AZ Sports Betting has a new standard collection.

March was a good month for Arizona sports betting. Customers in the state placed $690.979 million in wagers. That’s around a 40% increase in handle compared to the February handle, according to the Arizona Department of Gaming.

March saw the highest amount of wagers since sports betting became legal in Arizona in September 2021. The previous state handle record was $563.7 million, set in January.

Sportsbooks won $18.7 million in gross sports betting revenue from March’s bets. Meanwhile, the state of Arizona gained approximately $1.7 million in sports betting taxes.

March Madnesswas a key component of the boost. The basketball teams of Arizona Wildcats Men & rsquo, s, and Women’s basketball both had strong showings in their respective NCAA Tournaments.

The statistics from March, according to Ted Vogt, the ADG’s producer, portend favorable futures for gymnastics gambling in the state.

According to Vogt, March was a thrilling month for Arizona event wagering, with significant sporting events like the NCAA & rsquo and March Madness helping to break the record for the most events in one month. As we wrap up the first year of legal event wagering in the upcoming months, & ldquo, I look forward to seeing how the industry continues to grow. & rdquo,

Casinos will probably experience a significant slowdown in the second quarter. The NBA playoffs, football, and competitions like big championship golf, which can be especially beneficial for sportsbooks, take the place of the NFL, college football, or March Madness.

What the March & rsquo numbers might mean for Arizona sports betting in the future

Arizona is still a popular place to bet on sports. The March & rsquo, s numbers are a telling sign that Arizonans have appreciated having some skin in the game.

Under any circumstances, the NCAA Tournament’s first two sessions are a crucial trip for the sector. Arizona & rsquo’s run to the Sweet 16 gave AZ sportsbooks an additional boost.

March was busier than every other quarter with sport, with the exception of January, to put it mildly. All season long, football produced consistently high volume, but the state & rsquo, s bettors are demonstrating engagement that extends far beyond the playing field.

Are these figures green, is the problem. I think the long-term solution is yes.

However, there will be a fall in the near future. Activities typically move more slowly in April, May, and June. Betting. There is no sport, and early in the season, there is typically very little interest in placing bets on MLB.

Consequently, the NBA playoffs typically dominate the sports gambling business. Viewers in Arizona were strongly supporting the Phoenix Suns. The team & rsquo’s early playoff exit may have, however, slowed down NBA betting in Grand Canyon State.

The good news is that there are now more options for function bet in the position. There are currently 18 licensed virtual casinos in Arizona. Tribal casinos are also still implementing financial sports wagering options for their patrons.

Professional sports teams in the state are also expanding their in-person gaming options. Notably, it is anticipated that the BetMGM retail sportsbook, which will be situated in State Farm Stadium, directly outside the Arizona Cardinals & rsquo, will open in time for the start of the 2022 NFL season.

It makes sense to assume that Arizona will continue to be a top 10 activities gambling market in the future with more gaming options to occur.

How Arizona compares to other sports gambling industry across the country

Arizona & rsquo, with a$ 690.9 million handle in March, is sixth in the country.

  1. New York & ndash,$ 1.65 billion
  2. New Jersey andndash,$ 1.121 billion
  3. $ 971.3 million in Illinois & ndash
  4. $ 863.283 million in Nevada & ndash
  5. Pennsylvania & ndash,$ 714.976 billion
  6. Arizona & ndash,$ 690.9 million

As a result, Arizona is directly included in the top 10 markets during one of the busiest sporting gambling seasons. Colorado had a 505.6 million dollar market share with Arizona, followed by Michigan and Indiana with$ 476.8 million and Virginia with 469.5 million.

Arizona & rsquo’s sportsbooks have produced the following during the first seven months of sports betting:

  • Online and physical bets total$ 3.49 billion.
  • Gross profit of$ 247.3 million
  • Luxury fees for the express total$ 10.3 million.

AP / Denis Poroy pictures
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C. J. Pierre

CJ Pierre is a video journalist who resides in Arizona’s Phoenix-Metro Area right now. For more than ten years, he has covered sports and information for both TV and online channels. He is a graduate of Minnesota State University, Moorhead, and was born and raised in Minneapolis. In addition to covering high school, college, and professional athletics throughout his career, CJ has experience working as a writer and video. most somewhat after the soccer teams of North Dakota State University, Arizona Cardinals, and Phoenix Suns.

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