Arizona breaks sports betting record in March
Photo: Phoenix Home & Garden

Players in the US state of Arizona staked a record $691 million on sports in March this year, while gross revenue rose 52.5% for the month.

The state’s monthly turnover surpassed the previous record of $563.7 million set in January. Thus, the total for March was also 41.5% higher than the US$ 488.3 million registered in February. About $687.7 million was wagered online, while the remaining $3.3 million was wagered at sportsbooks.

Players earned $652.1 million from sports betting, leaving $37.2 million in gross revenue before free bets, up from $24.4 million in January. Of this amount, US$37.1 million was allocated to online retail and US$129,463.

After accounting for $18.6 million in free bets and promotional credits, taxable income was $18.7 million, up 171% from $6.9 million in February. The state also managed to raise $1.9 million in sports betting taxes during the month.

Companies that stood out in the Arizona sports betting market

DraftKings processed the most bets in March, with players spending $230.2 million online, while FanDuel came in second with 187.4 million, split $184.6 million online and $2.9 million in sports betting. BetMGM followed with $133.7 million in online betting.

In terms of gross revenue, FanDuel led with $13 million, with the division $12.9 million online and $84,347 in retail. BetMGM followed with $10.3 million in online gross, followed by DraftKings with $6.7 million in online revenue.

“March was an exciting month for Arizona event betting, with major sporting events like the NCAA March Madness helping to set a single-month betting record,” said Arizona Department of Gaming Director Ted Vogt.

“I look forward to seeing how the industry continues to develop as we finish the first year of betting on legal events in the coming months,” concluded Vogt.