Arizona sports betting hits record $897.6 million in wagers in November

Arizona’s sports betting market hit a record $897.6 million in wagers for November, up 18.1% from October’s previous high of $759.8 million and 25.8% higher than November 2023.

According to the Arizona Department of Gaming, online betting accounted for $890 million of the total, while retail wagers added $7.6 million. Consumer winnings totaled $811.3 million.

Adjusted gross event wagering receipts hit an all-time high of $84.1 million, surpassing the September 2024 record by 8.7% and nearly doubling November 2023’s total. Online betting generated $83.3 million of this, while retail brought in just $773,634.

Additionally, promotional free bets reached $26.6 million, lowering adjusted gross receipts to $57.5 million, a 183.3% increase from the previous year. The pre-deduction hold rate was 9.37%, dropping to 6.41% after accounting for free bets.

FanDuel maintained its lead in the Arizona market, generating $29.9 million in adjusted gross event wagering receipts before free bet deductions from a $288.6 million handle, achieving a 10.36% hold. DraftKings followed closely, securing $25.7 million in revenue from a higher $293.4 million handle, resulting in an 8.76% hold. BetMGM rounded out the top three with $12.7 million in revenue from a $111.6 million handle, yielding an 11.38% hold.

Caesars reported $4 million in combined online and retail revenue from a total handle of $52.5 million, with a hold of 7.62%. Fanatics took $3.8 million in revenue, all from online bets, off a $42.2 million handle for a 9% hold. 

Bet365 followed with $3.2 million in online revenue from $39.2 million, resulting in an 8.16% hold. ESPN Bet reported $2.3 million in online revenue from $28.4 million, meaning an 8.1% hold. 

Meanwhile, Hard Rock Digital was the only other operator to surpass $1 million in revenue, reporting $1.4 million from $20.4 million in wagers for a 6.86% hold.

Arizona collected $5.7 million in taxes from sports betting operations in November, with the majority coming from online wagers, which are taxed at 10%. Retail sports betting, taxed at 8%, contributed just $57,358.