Arizona Sports Betting Handle Hits $648 Million in October 2023

The state gaming, racing, and betting regulatory agency, Arizona Department of Gaming (ADG), has released sports betting figures (pdf) for the month of October of 2023. According to the regulator’s report, sports betting handle in Arizona reached more than $648 million to stand for an approximate 4.8% increase over the same month of 2022. The overall sports wagering handle hit in October 2023 represents the seventh single-month handle above $600 million since the 2021 launch of sports betting in Arizona and brings approximately $3.29 million in tax revenues for the state.

$648 Million Handle:

The total amount wagered on sports in Arizona in October 2023 reached the level of $648 million to represent around 6% increase over the $610 million handle seen in September 2023, as well as approximately 4.8% increase when compared to the same period of 2022. Based on the September 2023 figures, one may assume that the largest portion of bets were placed through online operators rather than the land-based retail facilities; In any case, the handle reached by the Arizona market in October 2023 represents the seventh single-month handle over $600 million in 26 months of ADG reporting.

Extending the Streak:

As reported earlier, the September 2023 sports betting handle of $610 million was the fifth largest Arizona market handle since the 2021 launch. The October 2023 result of $648 million exceeds the preceding month’s figures to be prospectively rated even higher in the post-PASPA market history. Further, the October 2023 result extends the streak of the overall sports betting handle in Arizona. In September 2023, the total handle for the 25 months reported by that month amounted to almost $12.3 billion. One month later, the total handle was increased to around $12.9 billion for the 26 reported months by October 2023 inclusive.

Approx. $12.9 Billion Total Handle:

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. Sports books pay a 10% tax (privilege fee) on the adjusted revenues to the state. Based on these figures, one might assume that the sports betting handle of around $12.9 billion reached in October 2023 brought a total of around $625 million to the operators and, respectively, approximately $62.5 million to the state for the 26 reported months. It is noted that these are approximate figures.

The total amount of wagers placed in Arizona in October 2023 brings this month in the company of seven single months with handles of more than $ 600 million each in the 26 reported months. Also, 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 to testify about the stable growth of sports betting in the state.