Arizona Sports Betting Soars: March Betting Hits $759.8 Million
According to a recent report by the Arizona Department of Gaming (ADG), Arizona’s betting company bet about $759.8 million on sports in March 2024, marking a new milestone with a stunning 17.8% increase over March 2023. This surge in sports betting activity underscores the industry’s growing popularity in the state.
ADG Insights:
Founded in 1995 by the Arizona Legislature, the ADG serves as a regulator for various aspects of gaming, including tribal games, racing, Paris Mutuel/simulcast betting, event betting/fantasy sports, and unarmed combat sports. Beyond regulation, the ADG is committed to supporting education, prevention, and treatment programs for individuals and families affected by problem gambling through its Problem Gambling Division.
The legalization of sports betting in Arizona dates back to April 2021, with legislation going into effect in September of the same year. Since then, the industry has seen significant growth, with record numbers in March 2024.
With a whopping $752.4 million betted through the online sportsbook app, online sports betting has emerged as an overwhelming influence in Arizona’s sports betting market. The online handle accounted for the majority of the total amount of bets, demonstrating bettors’ preferences for digital platforms.
Key players in online betting:
Industry giants FanDuel and DraftKings led the way in online betting, with both operators reporting significant numbers this month, according to a press release from the Arizona Gaming Department (pdf). FanDuel reported $265.1 million in bets, closely followed by DraftKings at $255.3 million. Other notable operators, including Caesars and BetMGM, have also made significant contributions to online trading, highlighting the diversity and competitiveness of the market.
While online betting dominated, retail sports betting also played a role in Arizona’s betting activity. However, only four operators offered retail betting services, with DraftKings, FanDuel, Caesars and BetMGM leading the way. Caesars and BetMGM nevertheless fell short of $1 million in retail trading, highlighting the challenges facing offline facilities in the digital age.
Arizona’s vibrant sports scene has further fueled the growth of sports betting, with several professional sports teams partnering with sportsbook operators. The collaboration of teams such as the Arizona Cardinals, Diamondbacks, and Phoenix Suns and well-known operators such as BetMGM, Caesars, and FanDuel has facilitated the establishment of on-site sportsbook venues, enhancing the overall sports betting experience for fans.
Compared to the same period last year in March 2024, Arizona saw a significant increase in sports betting activity, with the overall handle at $759.8 million, representing a significant year-over-year growth of 17.8%.
Record numbers for March 2024 underscore Arizona’s emergence as an important player in sports betting. With online betting driving significant growth and partnerships with professional sports teams improving the betting experience, Arizona’s sports betting industry is poised to expand and innovate further in the coming years. 바카라사이트
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