Arizona Reports $361M in Total Wagers over August

Arizona has definitely had a strong month in August, with the state reporting as much as $361 million in total bets placed across the state. Out of this, $2.77 million ended up as contributions to the state coffers, generated through tax revenue on sports wagering. This is the third-highest amount generated in a 12-month period. The biggest tax revenue generated by the state now is $4.1 million in May 2022, followed by the $3.2 million the state collected back in November 2021.

August Results Remain Strong for Arizona

Overall, Arizona has been enjoying strong contributions through and through and August definitely turned out to be a busy month, despite operators contributing less to the state. Most of this has to do with the fact that sports fans are also prone to win in varying degrees with some cashing out big ticket wins from their betting activity. Regardless, the Arizona Department of Gaming, is encouraged by the most recent figures, and expects even bigger numbers in the following months, driven by the NFL, the NBA, and the World Cup.

Arizona gets an 8% cut from adjusted retail receipts and 10% from adjusted gross receipts for interactive gambling. Arizona’s sports betting handle, though, is not expected to peak during the regular NFL or NBA seasons. Rather, the state will be looking forward to the March Madness season next year. Last March Madness, Arizona reported $691 million in total betting handles, the highest to date.

The majority of sports betting in August was generated by the mobile segment with $359,221,542 compared to retail for $1,456,464. The biggest gross event wagering wagers were realized by DraftKings at $129,813,207 and FanDuel with $108,720,668 in total wagers.

The third best was BetMGM with $58,205,051, and the fourth best in the state was $30,508. The biggest retail sports betting was realized by FanDuel again with $1,018,497. Caesars was the only other entity that took in $437,966.