Arizona’s Sports Betting Market Sees $648 Million in October 2023 Handle

The Arizona Department of Gaming (ADG) recently published the sports betting figures for the month of October 2023, revealing that the sports betting handle in the state reached over $648 million. This represents an approximate 4.8% increase over the same month in 2022 and marks the seventh single-month handle above $600 million since the launch of sports betting in Arizona in 2021. This impressive handle also generated approximately $3.29 million in tax revenues for the state.

The total amount wagered on sports in Arizona in October 2023 reached $648 million, signifying a 6% increase over the $610 million handle seen in September 2023 and a 4.8% increase compared to the same period in 2022. The majority of these bets were likely placed through online operators rather than land-based retail facilities. This marks the seventh single-month handle over $600 million in the 26 months of ADG reporting.

The October 2023 result exceeds the figures from September 2023 and extends the streak of the overall sports betting handle in Arizona. In September 2023, the total handle for the 25 months reported amounted to almost $12.3 billion. One month later, the total handle increased to around $12.9 billion for the 26 reported months by October 2023.

The $12.3 billion in bets placed in Arizona by September 2023 generated a total of $597.6 million in operator revenues and $59.6 million in tax revenues for the state over 25 months of ADG reporting. Based on these figures, the sports betting handle of around $12.9 billion reached in October 2023 likely brought a total of around $625 million to the operators and approximately $62.5 million to the state for the 26 reported months.

The $648 million sports betting handle hit in October 2023 is among the highest handles reached by the Arizona wagering market since the 2021 launch, indicating the stable growth of sports betting in the state.

Overall, the sports betting figures for October 2023 demonstrate the continued success and growth of the sports betting industry in Arizona. The state has consistently seen high levels of engagement and significant revenue generation since the launch of sports betting, indicating a positive outlook for the future of the industry in the state.