The Grand Canyon State’s sports wagering market experienced its most lucrative month to date, generating a remarkable $564 million in wagers throughout January. This achievement marks Arizona as the eighth state nationwide to surpass the half-billion-dollar milestone.
According to PlayAZ, an organization monitoring the state’s sports betting landscape, this record-setting month served as the culmination of an exceptional start to the football season. Experts attribute this triumph in part to the NFL’s elongated season, featuring an additional regular-season game and an expanded playoff structure.
Arizona’s swift ascent within the sports betting realm stems from a confluence of favorable circumstances. The state’s launch coincided with an opportune moment, met with evident enthusiasm from its inhabitants, and its regulations have proven alluring to major industry stakeholders. Essentially, Arizona has gleaned insights from the experiences of other states that embraced sports betting earlier, enabling it to hit the ground running.
Both digital and brick-and-mortar sportsbooks in Arizona witnessed a combined $56.37 million in revenue for January, eclipsing the previous high of $49.92 million established in December. On average, bettors staked a substantial $18.2 million daily throughout the month, exceeding the $16.1 million daily average from December.
Since its September inception, which saw an impressive $291.2 million in wagers, Arizona’s sports betting handle has consistently remained above $466 million for each subsequent month.
The Big Apple is leading the charge in sports wagering, reaching the half-billion-dollar mark in bets quicker than any other state. They even surpassed larger states such as Illinois, Michigan, and Pennsylvania! This winning run has already generated a tidy $19.6 million in income for New York, and with levies, they’re anticipating an additional $2 million in state coffers.
Analysts suggest this is partially due to the fervor surrounding the football season, which sustained the energy following the typical March Madness surge. They’re wagering that this robust beginning will result in a prosperous year for sports gambling in the state of New York.