Arizona’s Sports Betting Market Hits New Heights in October 2023

03.01.2024

The Arizona Department of Gaming (ADG) has revealed a notable increase in the state’s sports betting activities for October 2023.

Bettors in Arizona wagered over $648 million during the month, marking a 4.8% rise compared to October of the previous year. This growth encompasses both online and retail wagering platforms.

Bettors’ Earnings and Gross Wagering Receipts

In October, Arizona’s sports bettors secured winnings totaling $591 million. The state’s adjusted gross wagering receipts for the month stood at approximately $55.5 million. Additionally, free bets and promotional deductions for the month summed up to around $22.5 million.

The ADG reported that the state collected about $3.2 million in privilege fees from sports betting operations in October. This figure underscores the growing contribution of sports betting to Arizona’s state revenue.

Leading Sportsbooks in Arizona

DraftKings led the online sportsbook market in Arizona, with a mobile handle of $220.6 million. However, in retail operations, the company recorded $759,399, placing it behind FanDuel, which emerged as the leader in retail sports betting with a handle of $2.1 million. FanDuel also secured the second spot in mobile handle with $220.3 million.

TwinSpires recorded the lowest betting handle in Arizona for October, with $77,099 in wagers. Following its announcement last year, the Churchill Downs-owned sportsbook has officially shut down its online sports betting operations in the U.S.

Arizona has also made a name for itself in the daily fantasy sports arena. In October, nine fantasy operators collected $11.6 million in entry fees. PrizePicks topped the chart as Arizona’s leading fantasy operator with $5.2 million in entry fees, followed by DraftKings with about $3.4 million. Collectively, fantasy operators generated $1.9 billion in adjusted revenue for the month.

Our Comment On The Article

The growth in Arizona’s sports betting market in October 2023 highlights the state’s evolving and dynamic nature within the iGaming and sports betting industry. The increase in both online and retail wagering indicates a robust and diversified market that appeals to a wide range of bettors.

DraftKings and FanDuel’s performance underscores the competitive nature of the market, while TwinSpires’ exit reflects the challenges and strategic decisions that companies face in this rapidly changing environment. Furthermore, the notable performance of the fantasy sports sector in Arizona suggests a healthy appetite for varied forms of online gaming among consumers. As the market continues to mature, it will be interesting to observe how Arizona’s regulatory environment adapts and how operators innovate to maintain growth and customer engagement in this burgeoning sector.