Arizona Sports Betting Sees Decline in February Despite Yearly Growth
In February, Arizona’s sports betting sector processed a total handle of $637.5 million, showing a slight decline from January’s $707.5 million, yet marking a 4.6% increase compared to February of the previous year.
Revenue Insights
The gross gaming revenue (GGR) for the month stood at $53.0 million, which is a decrease of 23% from the previous month’s $69.3 million. A great portion of this revenue—nearly all but $290,000—was generated through mobile betting platforms. After accounting for various deductions and promotional activities, the total adjusted revenue (AGR) came to $28.0 million.
Since its inception in September 2021, Arizona has seen over $16 billion in cumulative sports betting handle.
New Entrants and Market Dynamics
FanDuel continues to lead as the top mobile sports betting platform in Arizona, with $230.3 million in bets for February alone, maintaining a narrow lead over its closest competitor, DraftKings.
A noteworthy development in February was also the entry of bet365, which quickly ascended to the sixth position in terms of handle, with $24.5 million.
The state of Arizona collected $2.8 million in privilege fees from sports betting in February, a decrease from January’s $4.6 million. This revenue contributes to the fiscal year’s accumulating total, which has now reached $27.2 million.
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