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Arizona smashes sports betting handle record in March

| By Robert Fletcher
Consumers in Arizona wagered a record $691.0m (£552.2m/€647.1m) on sports in March, while gross revenue climbed 52.5% month-on-month.

The state’s monthly handle surpassed the previous record of $563.7m set in January of this year, while the March total was also 41.5% more than $488.3m in February.

Some $687.7m was bet online, while the remaining $3.3m was bet at retail sportsbooks.

Players won $652.1m from sports betting, leaving $37.2m in gross revenue before free bets, up from $24.4m in January. Of this total, $37.1m was attributed to online and $129,463 retail.

After accounting for $18.6m worth of free bets and promotional credits, taxable revenue was $18.7m, an increase of 171.0% from $6.9m in February.

The state was also able to collect $1.9m in tax from sports betting during the month.

DraftKings processed the most wagers during March, with players spending $230.2m online, while FanDuel ranked second with a handle of 187.4m, split $184.6m online and $2.9m at retail sportsbooks. BetMGM followed with $133.7m in all-online bets.

In terms of gross revenue, FanDuel led the way with $13.0m, with this split $12.9m online and $84,347 from retail. BetMGM followed with $10.3m in online gross revenue, then DraftKings on $6.7m worth of online revenue.

“March was an exciting month for Arizona event wagering, with major sporting events like NCAA’s March Madness helping set a single month event wagering handle record,” Arizona Department of Gaming director Ted Vogt said. 

“I look forward to seeing how the industry continues to develop as we finish out the first year of legal event wagering in the coming months.”

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