Sports Betting

Arizona Sportsbooks Reach $600m Betting Handle in October


The October sports betting totals are in for Arizona sportsbooks, with the Department of Gaming reporting $618.6 million in bets placed for the month. This was the second-highest handle month in the 14 months of service offered in the state. Arizona is now the 11th US state to reach the $6 billion all-time betting handle milestone and ranks at the top for last year’s overall handle.

Arizona Sportsbooks Betting Totals

The overall handle was up 15% compared to the $538 million bet in September. The amount was just over 27% higher than in October 2021, when only $486.1 million was wagered. October 2022 falls in the second place for the state when it comes to bets placed, falling short only to March 2022 when $691 million was wagered. NCAA March Madness matchups most likely boosted this high amount.

In a statement, Arizona Department of Gaming Director Ted Vogt commented: ” Arizona’s sports betting industry continues to grow with over $132 million more dollars wagered in October 2022 compared to the same month in 2021. With Super Bowl LVII and the Waste Management Phoenix Open on the horizon, I am excited to see how these major sports tourism events impact the state’s sports betting industry in the coming months.”

The state plans on hosting Super Bowl LVII in Glendale at the State Farm Stadium this year. This will be the first time Arizona will host the event with legalized sports betting.

For October, the bets resulted in just over $49 million in earnings. This was a drop from September by 10.5%. Once you consider all deductions associated with the industry, the revenue came in at $29.5 million in October. This was a decrease from September’s $30.7 million.

The state was given close to $3 million from the earnings, which helped push the industry total to more than $25 million in just over one year. In 2022, the state generated over $21 million.

Individual Sportsbook Totals

Several operators offer services in Arizona. While there are many options, a few top brands can see higher handle and revenue reports than others. In the state, FanDuel is the number one operator overall. The brand saw a more than 34% handle increase for October, generating over $194 million. This is the highest handle for the company in the state since launch.

FanDuel reached $20 million in earnings for the second time in Arizona, reaching double digits in earnings for four months running. DraftKings actually reached a higher betting handle in October, seeing over $214 million in bets. However, the winnings were much lower than FanDuel, at $11.8 million.

BetMGM also has a top spot in the state, seeing $94 million in bets placed and earning $10.1 million in revenues. The handle was a good turning point for the brand, reaching its highest market since April 2022.

Caesars comes in fourth place in Arizona Sportsbooks, with over $57 million in wagers. Unfortunately, the brand saw a huge dip in its September to October earnings, dropping over 38%.

Coming in at the bottom is Barstool and Desert Diamond. Barstool Sportsbook was with only other mobile provider that was able to see an eight-figure market in the handle. The brand reached $17.5 million in bets but only generated $910,000 in revenues.

Desert Diamond is one of the smaller providers in the state. The betting handle for the brand more than doubled from the previous month, with almost $5 million in wagers placed. The brand set a new record for monthly wagers at $410,000.

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