Arizona’s Department of Gaming published its monthly revenue report covering the month of January. The authority showed that record-breaking numbers were wagered, with Arizonians spending $564 million and winning back $522 million.
Most of the wagers were made through licensed online sportsbooks, operated by local Native American tribes or professional sports teams. There is an 8% levy on retail wagers made by players, and 10% made on mobile apps.
Legalized sports betting – in its fifth month in Arizona – is offered on 12 online platforms and via two brick and mortar casinos that operate in the state. All the operators combined – after federal tax – made slightly more than $40 million.
Daily Fantasy Sports saw spending of just under $4 million which incorporated entry fees and profits (before taxes).
From the time sports betting launched in September 2021 until the end of the year, bets to the tune of $1.7 billion were made. Sportsbooks made $60 million profit during this time period.
It is estimated that sports betting can bring in up to $100 million per year to the state, although the number will probably be lower than that.
Under Arizona’s updated sports betting laws, ten licenses can be awarded to professional sports teams, while the other ten can be awarded to Native American tribes.