Arizona Sportsbooks Take $777M Million In Bets In First Two MonthsState's Tax Revenue Low Due To Promo Play |
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Arizona sports betting has started off hot.
According to state figures made public Dec. 31, the state-sanctioned online and retail books took $777 million in bets during September and October. September had about $290 million in bets, with the rest coming in October.
Figures from November and December aren’t yet available.
The books retained $68 million of the wagers. They gave away $57 million in so-called free bets, however. As a tax, Arizona collected 10% of the $10.3 million in profit.
“Since commencing operations, event wagering & fantasy sports have contributed more than $15 million directly to the state general fund over the months of September and October, highlighting the immediate revenues from these new industries,” Arizona gaming regulations said in a statement. “Arizona Operators paid more than $14 million in licensing fees, as well as more than $1 million in fees for the privilege of operating these new games.”
“Arizona’s event wagering & fantasy sports is off to a strong start here in the state and will only increase as the market matures,” said Ted Vogt, Director of the Arizona Department of Gaming. "We worked diligently with the public and stakeholders to efficiently and responsibly set up these industries in just under five months, and we are starting to see the culmination of this hard work.”
Arizona legalized sports betting in the first half of 2021. The governor signed the state’s legislation for sports gambling in April, with the first bets coming in September.
The state is one of more than 30 nationwide to have legalized sports betting.
Arizona has two retail sportsbooks and nine online operators.
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