The Arizona Department of Gaming reported Tuesday December’s numbers for sports betting in the state, showing handle falling just $800,000 short of $500 million for the month. Arizona put a cap on 2021 reporting among the legalized states, and pushed the nationwide sports betting handle for the year to a total of $57.8 billion, thus doubling 2020’s amount of $21.5 million.
With the onboarding of SuperBook and Fubo in the state, the December total of $499.2 million outshined October’s record, which saw $486.1 million in handle. Since sports wagering’s inception in Arizona, the state has generated $1.75 billion in bets.
According to PlayArizona, Arizona sportsbooks won $39.8 million in gross sports betting revenue, which was down 23% from $51.4 million in November. Sportsbooks’ 8% hold remained among the highest rates in the U.S. in December, and the highest among the 10 largest markets. After $21.3 million in promotional credits, the state taxed $17.3 million in gross event wagering receipts. That produced $1.7 million in taxes for the state.
In summation, through four months, Arizona’s sportsbooks generated $1.7 billion in wagering, $161.1 million in gross revenue and $6 million in privilege fees for the state
With mobile wagering accounting for nearly 99% of Arizona’s all-time handle, DraftKings, FanDuel and BetMGM have positioned themselves as the top tier of operators through the first four months. All three cleared $100 million in handle for December, with DraftKings leading at $146 million, followed by FanDuel’s $128 million and BetMGM at $103.8 million.
FanDuel Sportsbook at Footprint Center, Arizona
DraftKings saw the most gross operator revenue at nearly $11 million, compared to FanDuel’s $10.7 million. However, the latter’s promotional spend dropped 24.9% compared to 5.9% for DraftKings, resulting in FanDuel reporting close to $7.2 million in adjusted revenue. Its rival doled out nearly $30 million in promotional credits and free bets in Arizona.
BetMGM also reported 86% of its $8.8 million in gross revenue accounted for promotional credits and free bets. Its overall spend of $26.3 million represents 72% of its $36.6 million in gross revenue.
Caesars’ handle climbed 16.4% from November to an all-time high of $73.9 million. Its promotional spend also peaked since its launch with $4.4 million, leaving less than $520,000 eligible for taxation.
Barstool Sportsbook and WynnBET followed with $20.6 million and $14.3 million in handle, respectively. Barstool’s gross revenue tumbled 42.2% to $930,000, and Wynn’s nearly halved at slightly more than $1 million.
Both SuperBook and Fubo launched their operations shortly after Christmas. Superbook’s handle of more than $170,000 was nearly five-fold that of Fubo, which saw $34,497. SuperBook had a 21% win rate, resulting in nearly $36,000 in gross revenue.
Fubo's launch in Arizona in alliance Ak-Chin Indian Community
In an official press release, Ted Vogt, Director of the Arizona Department of Gaming, spoke about December’s numbers and said: “With a new record for total wagers and payouts this December, I am excited to see the continued strong start to the state’s event wagering & fantasy sports market. I look forward to seeing the benefits to Arizona as the market further develops.”
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayAZ.com, added: “New York broke many of Arizona’s records after it debuted mobile sportsbooks, but that shouldn’t diminish just how well the state has performed so far. We expected Arizona to do well when sports betting launched in September, but the market continues to match the highest expectations with results that rival more mature markets, some with much larger populations.”
Gross gaming revenue from U.S. sports betting in 2021 topped $4.3 billion, while adjusted revenue surpassed $3.5 billion after more than $800 million in promotional credits and other deductions were taken in multiple states where operators may do so. States with legalized sports wagering collected $562.3 million in tax receipts.
Original article: https://www.yogonet.com/international/news/2022/03/09/61715-arizona-39s-sports-bets-nearly-hit–500m-in-december-cap-2021-nationwide-handle-at–578b
