The Arizona Department of Gaming (ADG) has released the sports betting figures for October 2023, revealing that the total amount wagered on sports in the state reached $648 million. This represents a 6% increase over the $610 million handle seen in September 2023 and a 4.8% increase when compared to the same period of 2022.
The report also showed that this is the seventh single-month handle above $600 million since the launch of sports betting in Arizona in 2021. This growth in sports betting has led to the generation of approximately $3.29 million in tax revenues for the state.
The figures suggest that the majority of bets were placed through online operators rather than land-based retail facilities. The total sports betting handle in Arizona for the 26 reported months has reached approximately $12.9 billion, with the October 2023 result extending this streak.
Based on the figures, it can be assumed that the sports betting handle of around $12.9 billion reached in October 2023 brought in approximately $625 million to the operators and $62.5 million to the state for the 26 reported months. These numbers testify to the stable growth of sports betting in Arizona and reflect the increasing popularity of sports wagering in the state.
The $648 million sports betting handle hit in October 2023 is among the highest handles reached by the Arizona wagering market since the 2021 launch, demonstrating the state’s strong position in the sports betting industry.
The news has been received positively, with many in the industry welcoming the continued growth of sports betting in Arizona. These figures reflect the trend of increasing popularity and acceptance of sports betting in the state, providing a positive outlook for the future of the industry.