The Arizona Department of Gaming (ADG) issued its latest report for March 2023. The monthly figures show that Arizona players spent $644.76 million on sports bets in March. The number, also known as a betting handle, represents a 5.83% monthly increase from February’s $609.28 million.
In the meantime, revenue at Arizona’s sportsbooks during March totaled $53.4 million. When compared to February’s 33.95 million, March revenue more than doubled.
The ADG does not disclose how much money was gambled on which sports.
Arizona sportsbooks see over 50% monthly increase in revenue
During 31 days of March, Arizona sportsbooks generated revenue of $53,523,947. March revenue shows a 57.16% monthly increase from February when Arizona sportsbooks compiled a $33,950,879 before free bets deduction.
In March, the adjusted gross revenue (AGR) came to $37.1 million after promo deductions of $16.24 million.
The state collected privilege fees (taxes) for the month that amounted to over $3.7 million. As a result, the state has collected over $43 million in privilege fees since starting legal operations in April 2021.
The revenue increase in March doesn’t come as a surprise, as betting on March Madness is a prosperous business for all US gambling states, including Arizona.
Arizona’s top operators all showing progress in March
Out of 17 Arizona operators, the best-performing ones in terms of online betting handle were FanDuel and DraftKings. Here’s a bigger picture:
- FanDuel took $254.91 million in online wagers, an increase from February’s $218.9 million.
- DraftKings is next with $168.83 million, slightly improving from February’s $161.5 million handle.
- BetMGM came in third with an online betting handle of almost $87.50 million, an increase from $80.77 million from the month before
- Caesars (American Wagering) is next with $56.03 million in online bets, an uptick from February’s $53.06 million.
Retail sports betting numbers in March were led by FanDuel
FanDuel is the only retail operator in Arizona to show an increase in handle in March over February. To be more precise:
- FanDuel collected $2.35 million in a betting handle, a nearly 30% increase from $1.8 million gathered in February
- BetMGM generated $1.288 million in a handle, a slight decrease from February’s $1.291 million
- Caesars’ betting handle for March was $475,011, a little less than February’s $495,163
March marks the fifth time Arizona surpassed $600 million in bets
Jackie Johnson, Arizona Department of Gaming Director, said via an ADG news release:
“March of 2023 is the fifth time the state eclipsed $600 million in wagers and is the second highest month since the inception of sports betting in Arizona. I look forward to seeing how sports betting progresses in the state as we close out Fiscal Year 2023 in the coming months.”
Before this success, Arizona reached a $600 million milestone in:
- February 2023 (handle: $609,278,096)
- November 2022 (handle: $616,855,045)
- October 2022 (handle: $618,570,296)
- March 2022 (handle: $690,979,294)
