While the Phoenix Suns flamed out early in the NBA playoffs, the team’s strong end to the regular season and NCAA March Madness helped fuel a record March for Arizona sports betting.
Arizona sportsbooks took a record $691 million in bets during March, according to a report released Monday by the Arizona Department of Gaming. The March handle is a 40% jump compared to the $491.7 million in February.
“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 record,” ADG Director Ted Vogt said in a release. “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.”
Arizona sports betting revenue rises
Operators generated $38.9 million in sports betting revenue, a 5.6% hold. The revenue was a nearly 52% increase from February’s $25.6 million, but it is 24% below November’s all-time high of $51.4 million.
Sportsbooks doled out $18.6 million in promotions during March, bringing taxable revenue down to $18.7 million.
The state collected nearly $1.9 million in taxes.
Arizona loves mobile sports betting
Arizona sportsbooks accepted nearly $687.7 million in mobile wagers during March, or 99.5% of the overall handle.
DraftKings Sportsbook paced the state’s 18 operators with $230.2 million in bets. The operator held 3.1% to generate $7.2 million in revenue.
FanDuel Sportsbook took $187.4 million in bets and led the field with $13.4 million in revenue, a 7.2% hold. BetMGM Sportsbook handled $133.7 million in wagers, holding 7.7% for $10.3 million in revenue.
Retail sportsbooks on the way
Two retail sportsbooks were open in March and handled $3.3 million in bets. The FanDuel Sportsbook at Footprint Center accounted for $2.9 million of the wagers, while the Caesars Sportsbook at Chase Field took $458,758.
With baseball season ramping up in April and the NBA season finishing, the summer might show Chase Field’s sportsbook some heavier action.
Other retail sportsbooks are also on their way, including a BetMGM Sportsbook at State Farm Stadium and DraftKings Sportsbook at TPC Scottsdale.
|DraftKings||$230.2 million||$7.2 million||3.1%||33.3%|
|FanDuel||$187.4 million||$13.4 million||7.2%||27.1%|
|BetMGM||$133.7 million||$10.7 million||8.0%||19.3%|
|Caesars||$95.8 million||$5.1 million||5.3%||13.9%|
|Desert Diamond||$1.0 million||(-$18,400)||—|
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