Arizona becomes fastest state to top $1B sports betting handle

According to data released by the state on Tuesday, Arizona’s nine mobile sports betting sites, plus two in-person sportsbooks operating in downtown Phoenix took about $467 million in total wagers for November, which was the third operational month since its legalization. Gamblers lost $51 million. 

Bettors have already wagered more than $1.2 billion on sports after three months of legal betting, exceeding expectations and becoming a top 10 market at a national level, according to Ted Vogt, Director of the Department of Gaming. “Revenue from these new games is strong, and will only get stronger as the market develops”, AZCentral reported.

November’s total wagers fell short from October’s $486 million, as it had one less weekend. With November's wagers, Arizona has become the fastest state to top $1 billion in total bets placed of all legal markets, though it is expected to be eclipsed by New York, which launched sports betting this month. 

Sportsbooks in the state pay 8% of adjusted revenue from in-person gambling and 10% of mobile revenue in fees to the state. They also pay 0,25% of total wagers in a federal excise tax. The state collected about $3.2 million in fees for the month, a substantially higher number than September’s, and October’s which combined brought in only about $1 million to the state. 

The “win” percent for mobile sportsbooks in Arizona was 11% for the month, which means that for every $100 bet, sportsbooks won $11 and paid the rest back to gamblers. 

According to experts at PlayUSA.com, which tracks sports betting across the country, November was especially high in all legalized markets, with a national average of 9.8% that month, the highest since October 2019.