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Arizona breaks sports betting revenue record again in January

| By Robert Fletcher
Arizona set a new sports betting revenue record for the second consecutive month in January, with operators in the state generating a total of $69.3m (£54.2m/€63.5m).
Arizona January

The January figure was 51.6% ahead of $45.7m in the same month last year. It was also 4.8% clear of the previous Arizona monthly record of $66.1m in December.

Some $69.0m of this was attributed to online betting. A further $230,662 came from retail sportsbooks and $146,204 from limited event wagering (LEW) operators.

As for handle, players spent $706.4m betting on sports in January. This was 19.5% higher than last year and also 1.2% ahead of $706.4m in December 2023.

Online gross event wagering amounted to $698.0m, with retail betting at $6.3m. A further $2.01m was spent with LEW operators in January.

Some $23.2m in free bets and promotional credits were reported in January, almost all of which were online. When deducting these, adjusted gross revenue for the month reached $46.2m, up 59.3% year-on-year but 4.4% behind December’s $48.3m.

As for tax, this amounted to $4.6m. Almost all tax came from mobile betting, which is taxed at 10.0%, with just $18,164 and $11,696 from retail and LEW operators, respectively. Land-based operators pay tax at a rate of 8.0%.

FanDuel continues to lead in Arizona

Looking at individual operators, FanDuel remains the online market leader in Arizona with gross revenue of $31.2m from $228.2m in bets.

DraftKings and partner Crown Gaming again ranked second with $22.5m, despite having a larger online handle of $258.1m. BetMGM followed in third on $9.7m for the month off $84.7m in total wagers.

As for the retail market, DraftKings and Crown Gaming claimed top spot with gross revenue of $144,519 and a $3.3m handle.

FanDuel was second with $62,810 in revenue from $1.8m. BetMGM again placed third with revenue of $23,332 off $979,342.

As for LEW operators, Turf Paradise was the leader with $48,958 in revenue from $1.1m.

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