Arizona passes $1 billion in total event wagering in third month of operation
Jan 26, 2022, 11:00 AM
(AP Photo/Susan Haigh, File)
(AP Photo/Susan Haigh, File)
PHOENIX — It took Arizona just three months to clear $1 billion in total event wagering, according to a report released Tuesday from the state’s gaming department.
Gamblers in the state wagered about $466 million on events and fantasy sports in November, bringing the total to $1.2 billion since operations began Sept. 9 and without reports for December or January.
Arizona also got a nice bump for its general fund in taxes after a slow start in the first two months, collecting about $3.2 million.
“Revenue from these new games is strong and will only get stronger as the market develops,” Ted Vogt, gaming director, said in a press release.
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The state received $1.3 million in taxes from betting operation earnings, which are taxed at 10%, in September and October.
“Arizona has exceeded expectations and is already a top ten market nationally,” Vogt said.
DraftKings and FanDuel remained the most popular betting apps, taking in $148 million and $113 million in wagers, respectively.
Free bets continued to decrease, with $18.3 million handed out in November.
There were $31 million free bets in Arizona in September and another $26 million in October.
The credits for those free bets, which are designed to lure people to the online and retail sports books, phase out over several years.
They start at 20% of gross receipts in the first two years then drop to 15% and then 10% before ending in the sixth year.
The Associated Press contributed to this report.
