Sat. Feb 4th, 2023

Arizona sports activities betting noticed document exercise in October throughout the state’s smorgasbord of sportsbooks and cellular apps.

Arizona sportsbooks dealt with $618.6 million in October, in response to an Arizona Division of Gaming report final week, vaulting it into the highest 10 most-bet states in short US historical past. It was Arizona’s second-highest betting month since launching sports activities betting in Sept. 2021 and ranks sixth amongst all states for October.

Betting elevated 15% from September, and 27% from October 2021.

“It’s clear Arizona’s sports activities betting trade continues to develop, with over $132 million extra {dollars} wagered in October of 2022 when in comparison with the identical month of 2021,” ADG Director Ted Vogt mentioned in a press release. “With Tremendous Bowl LVII and the Phoenix Waste Administration Open on the horizon, I’m excited to see how these main sports activities tourism occasions impression the state’s sports activities betting trade within the coming months.”

Extra betting, much less taxes

Arizona sports activities betting generated $2.9 million in taxes for the month, about $95,000 lower than in September as operators gained much less bets and held 7.8% of deal with. They deducted $19.9 million in free play and losses from $48 million in gross gaming income.

Together with its deductions, Arizona imposes a decrease 10% tax on on-line sports activities betting income and eight% on retail, making it one of the vital operator-friendly states within the nation.

Six states generated extra tax income in October regardless of every taking greater than $90 million much less in bets, in response to LSR‘s sports activities betting income tracker.

DraftKings dominates Arizona sports activities betting

DraftKings made up 35% of the net market with $214.7 million in bets. October was its third $200 million month, which Arizona’s 17 different apps have but to hit even as soon as.

FanDuel took the second-most cellular bets with $192 million, its finest month in Arizona but. BetMGM was third with $94 million, adopted by Caesars with $57 million and Barstool with $17.5 million.

The state’s 13 different apps mixed for the remaining 6.5% of all bets. TwinSpires and Fubo Sportsbook took a mixed $400,000 earlier than shutting down for good midway by means of the month.

What’s with Phoenix Suns enterprise?

Whereas DraftKings led cellular exercise, FanDuel led on the bottom with $2.8 million in bets positioned at its retail sportsbook.

Nevertheless, FanDuel Sportsbook at Phoenix Suns Footprint Middle posted greater than $185,000 in losses, its third shedding month within the final 5. No different retail sportsbook reported losses. In October, the Phoenix Suns have been 4-2 in opposition to the unfold, per Lineups.com.

The BetMGM Sportsbook at State Farm Stadium took $2.3 million in bets and $190,000 in income. It has but to report a shedding month since opening in August and subsequent month turns into the primary retail sportsbook at a Tremendous Bowl sport. Caesars Sportsbook at Chase Subject took $985,000, preserving $110,000.

Racetracks, eating places and different off-track betting places took $1 million in bets, their most since March 2021.

By Admin

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