Arizona October Betting Handle Breaks $600 Million for Second Time

Arizona’s Department of Gaming reported $618.6 million in handle for October. This is the state’s second-highest handle total in 14 months of legal betting. It trails slightly behind the $691 million from March 2021, which was the first time wager was available in Arizona for March Madness. 

Arizona’s sports betting handle was up 15% for the month compared to September’s total of $538 million. It was also up 27.3% from the $486 million bets placed in October 2021. This also pushes the state tax revenue for the month up to nearly $3 million. Arizona has received $21.3 million in taxes for 2022. 

The report also rounds out the October reporting nationwide. U.S. sportsbooks as a whole have handled their second-highest total since sports betting was legalized. The overall national handle finished October at $9.69 billion – within $150 million of the record $9.8 billion wagered in January 2022

Arizona also became the 11th state to handle more than $6 billion all-time. This puts the Grand Canyon State ahead of Tennessee into the top ten nationally for October. Arizona currently ranks sixth in handle for the 2022 calendar year, with $4.6 billion worth of wagers placed. 

“It is clear Arizona’s sports betting industry continues to grow with over $132 million more dollars wagered in October 2022 compared to the same month in 2021,” shared Ted Vogt, director of the Arizona Department of Gaming, in a statement. “I am excited to see how [the Super Bowl LVII and the Waste Management Phoenix Open] impact the state’s sports betting industry in the coming months.” 

The upcoming Super Bowl will be the first time a Super Bowl is held in a state where sports betting is legal.

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FanDuel Surges Digitally, Struggles in Retail

FanDuel Sportsbook had a 34.1% month-over-month increase in handle, to $194.2 million, marking the highest amount of wagering since its national launch. It’s the only mobile sportsbook to surpass $20 million in monthly gross revenue. The operator also posted a double-digit hold for the fourth consecutive month, coming in at 10.5%, just 2.8% lower than September. 

However, compared to FanDuel’s incredible surge in mobile both in Arizona and nationwide, FanDuel’s retail sportsbook at the Footprint Center reported a weak month. The location posted a loss of $185,000 from $2.8 million wagered in October 2022. This was its most significant loss in 14 months of operation and its third loss in the last five months. 

BetMGM, in comparison, had its first entire month of wagering at State Farm Stadium in October. It reported $2.3 million in accepted bets and kept $190,000 in revenue. Likewise, Caesars Sportbook at Chase Field reported $110,000 in revenue for October. 

About the Author

Stephanie Wood

Stephanie is a New York-based writer. Following her graduation from the University of Colorado with a degree in Business Administration, she worked at The Wall Street Journal. She also holds her MFA in Creative Writing from Arcadia University. She has written for Augusta Free Press, Toronto Sports Media, CU Independent, and several other publications. When she's not writing, you can find her rooting for the Colorado Avalanche, taking care of her plants, and fostering dogs.