Arizona: Sports activities Betting Income Soars in January, Surpasses $500M

Sportsbooks in Arizona have seen a brand new document after sports activities followers wagered greater than half a billion {dollars} in January, in keeping with a brand new report.

Arizona Sportsbooks Surpass $560M in Wagers for January

It was again in September final yr when Arizona launched its sports activities betting market. After a couple of months of operation, sportsbooks have seen a gradual improve in betting deal with. Nevertheless, they couldn’t attain the aim of $500 million in betting deal with in a single month. With that in thoughts, operators in Arizona got here near the $500 million betting deal with mark again in December, however the income again then halted at $494.5 million.

Now a brand new report launched by the Arizona Division of Gaming (ADG), reveals that sportsbooks within the state have seen a robust begin of the yr. In reality, in January 2022, operators accepted greater than $560 million in wagers. This marked the primary time sportsbooks in Arizona have seen wagers surpass the half-a-billion greenback mark.

Operators Win $19.6M, State Collects $1.9M in Taxes

Total, the wagers in January hit $563,694,591. From that complete, the winnings paid to the gamers had been $521,804,390. Deducting the winnings paid to gamers left the licensed operators in Arizona with $40.5 million for January. Nevertheless, from that complete, operators gave away $20.9 million in free bets and promotional credit. Which means that their ultimate win was $19.6 million. In Arizona, cell sportsbooks pay 10% tax on their winnings, whereas retail sportsbooks are topic to eight% tax. In different phrases, in January, the state collected $1.9 million in taxes.

With over half a billion {dollars} wagered in January, it’s clear that Arizona has change into a high ten occasion wagering market nationally.

Ted Vogt, director on the Arizona Division of Gaming

ADG’s director, Ted Vogtcommented on the subject by saying that the state positioned itself as one of many high 10 markets nationally. Furthermore, he thanked the “Arizona Division of Gaming Workers and occasion wagering and fantasy sports activities stakeholders, whose work has contributed to the robust begin within the state.

DraftKings, FanDuel and BetMGM Are Leaders in Arizona

A breakdown of the $563.7 million in wagers exhibits that DraftKings was an unquestionable chief in January. The sportsbook collected $173 million in cell wagers and paid out $161.2 million to gamers.

It’s no shock that FanDuel was additionally among the many leaders by way of collected sports activities wagers and payouts. The latest report launched by the ADG reveals that FanDuel collected $3.9 million in retail wagers and a few $149.9 million in cell wagers. Consequently, the operator paid out $3.5 million in retail winnings and $137.6 million in cell winnings to gamers within the state.

BetMGM is the operator that has seen the third-highest cell wagering deal with in January. The sportsbook reported $120 million in cell wagersleading to $109 million in payouts for gamers.

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