Most of the handle came from online sportsbooks, accounting for $639.9 million. Traditional brick-and-mortar sportsbooks handled $4.1 million in March wagers.
The state collected $3.7 million in revenue from sports betting in March. This is an increase from the $1.6 million collected in February. The increase in revenue is likely due to a number of factors, including the fact that March had March Madness, the NBA and NHL playoffs, and Cactus League betting.
Here are some of the key takeaways from the March 2023 Arizona sports betting handle report:
- The state saw a strong month of the betting handle, with $644.7 million wagered.
- Most of the handle came from online sportsbooks, accounting for $639.9 million.
- Retail sportsbooks handled $4.1 million.
- The state collected $3.7 million in revenue from March sports betting.
FanDuel Big March Online Winner
FanDuel has dominated the US sports betting scene post-PASPA, and March was no exception. The NYC-based sportsbook operator accepted $234.9 million in March wagers, earning the company $15.7 million in taxable revenue.
DraftKings finished a distant second to rival FanDuel, handling $168.8 million in bets. DraftKings also reported taxable earnings of $10.3 million, a sharp decline from the $15.1 million February revenue.
BetMGM is doing its best to keep pace with the top two leaders, taking in $87.4 million in March wagers. That earned the Las Vegas-based company $5 million in taxable revenue, which was identical to its February taxable revenue.
Caesars handled $56 million in wagers for a solid March, earning $3.6 million in taxable revenue. This tripled the legendary company’s February taxable earnings and is a sure sign that Caesars will continue striving to reach the top.
Desert Diamond Mobile remained in the top five Arizona betting apps with a strong March, handling $28 million in wagers. The sportsbook operator paid out nearly $1 million more than it took in and wasn’t subject to any March taxes.
Retail Sportsbooks See March Rise
Three retail sportsbooks made the March report, and the three shops accepted Arizona customers’ $4.1 million in wagers. That was an increase from the $3.6 million handled by the brick-and-mortar bookies during the second month of the year.
FanDuel led the way with $2.3 million, followed by BetMGM ($1.2 million), and last but certainly not least was Caesars, checking in at $475,411.14.
What Does This Mean for the Future of Sports Betting in Arizona?
The strong month of the handle in March is a positive sign for the future of sports betting in Arizona. The state has a large population and a strong economy, which are both factors that are likely to contribute to market growth.
The Arizona Department of Gaming is expected to release its April revenue report in the coming weeks. It will be interesting to see if the state can maintain the momentum from March and continue to see growth in the sports betting market.
