. Arizona Sportsbooks Debut With Nearly $300 Million In September Wagers

Arizona Sportsbooks Debut With Nearly $300 Million In September Wagers

Written By Staff on December 31, 2021Last Updated on January 30, 2023
Arizona Sports Betting FanDuel Sportsbook

According to PlayInAZ experts, Grand Canyon State sets a U.S. history for the amount of money wagered in the first quarter of legal sports betting.

According to analysts from play-in-az.com, which monitors the developing Arizona gaming market, ( LAS VEGAS ) & mdash, Arizona & rsquo, sportsbooks had the busiest debut month in the history of U.S. legal sports betting, with nearly$ 300 million in wagers in September, more than any other state in its first month.

& ldquo, Football is the straw that stirs the sports betting drink, so it was crucial to launch ahead of the NFL & rsquo’s first game and with college football in full swing, according to Eric Ramsey, an analyst for the PlayUSA.com Network, which also includes PlayInAZ.co. Most of the most well-known casino companies in the nation, & ldquo, also entered the market first. And with almost a whole month of use, it made an impressive entry. & rdquo,

According to official data made public by the Arizona Department of Gaming on Friday night, wagers totaled$ 291.2 million at Arizona & rsquo’s online and physical sportsbooks in September. In Tennessee’s second calendar quarter, which was set in November 2020, that buried the previous record of$ 131.4 million.

From September 9 to 30, the state & rsquo’s sportsbooks collectively generated$ 32.3 million in gross gaming revenue, which is also the highest amount ever for a state in its first month of legal sports betting. That resulted in net profit of$ 31.6 million. The state taxed$ 392, 418 in gross event wagering receipts following$ 31.2 million in promotional credits, resulting in$ 31, 293 in state privilege fees.

To put Arizona & rsquo’s debut in perspective, New Jersey, the largest sports betting market in the country, did not earn more than$ 290 million in a single month until it earned$ 385.3 million during its ninth month.

According to C. J. Pierre, lead analyst for play-in-az.com, & ldquo, Arizona has a huge market potential, but it is encouraging for the sector to see such an impressive debut. & ldquo, breaking a record in the first month may be considered starting the business. How quickly the position you expand and engage with more well-established industry is the next issue. That won & rsquo doesn’t seem to take very long. & rdquo,

Retail sportsbooks generated the remaining$ 2.6 million in wagers, while online sports betting generated$ 288.1 million of the state & rsquo, s handle. In the first month, seven sportsbooks made their debuts, including well-known names like Barstool, BetMGM, Caesars and TwinSpires as well as FanDuel and DraftKings & mdash, the two biggest operators in the United States.

With$ 97.7 million in wagering, DraftKings dominated the market, bringing in$ 12.7 million of gross revenue. FanDuel came in second, earning$ 594, 897 in net profit with$ 57.7 million in net bet and$ 1.9 million from financial bet.

The Arizona Cardinals’ hot start, which saw them start the season at 4 – 0, sparking bettors & rsquo, interest, also helped the state & apos; s operators.

The Cardinals & rsquo’s historic start was a result of local sports and an NFL team that is strong, which matters more than most. Ramsey said,” Godsend for sportsbooks, & rdquo.” Operators of & ldquo, Arizona & rsquo are looking to attract new bettors and expand their clientele quickly. An enthusiastic admirer basic facilitates that task. & rdquo,

Visit play-in-az.com / news for more details and analysis on regulated sports betting in Arizona.

Contact: Zack Hall, Catena Media, [email protected]

Photo taken by AP / Mat York
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