Arizona sportsbooks get 2024 started with record-breaking momentum

After a record year in 2023, sportsbooks operating in Arizona are already seeing double-digit increases in 2024.

In 2023, more than $6.57 billion was wagered on sporting events at sportsbooks and on sports betting apps in the state, up 8.9% from 2022. But according to data released recently form the Arizona Department of Gaming, 2024 is on course to beat last year’s record year.

For the first two months of 2024, which is all the data released so far by the ADG, $1.34 billion has been wagered in the state, which is up nearly 12% from the $1.2 billion wagered in January and February 2023.

January 2024 had the second-highest monthly statewide handle, or amount bet, in the entire history of sports betting in Arizona, with $706 million wagered in the month. The largest handle was in November 2023 with $713 million wagered.

Not only has more money been bet in Arizona so far in 2024 compared to 2023, but the state has brought in more tax money from sports betting. Combined, January and February brought in about $7.4 million to the state’s coffers. That is up 64.6% from the same period in 2023.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.