Arizona February sportsbook handle hits just under $500m; 99% comes from online

Arizona’s sportsbooks have posted an accumulated handle just shy of $500m this February. 

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The data reveals that the latest handle figures have taken Arizona’s generated funds from wagers to $3bn over the first six months of operation.  

Analysts at PlayAZ note the sizeable impact the Super Bowl had on keeping business brisk at Arizona’s sportsbooks, which accounted for a large portion of the $500m taken during February.  

Bettors placed an average of $17.6m in wagers per day over February, down from an $18.2m per day average in January.  

Despite the success of the Super Bowl, February marked the first month-over-month decline in sports betting since Arizona became a live market, a 13% dip from the record $563.7m sportsbooks collected in wagers this January. 

PlayAZ has tempered any concern over February marking the start of a negative market trend, though, citing the shortness of the month  in which only one NFL game was played — as the key reason for the modest downtick in revenue figures.  

“Arizona is following a similar pattern to more mature markets”, claimed PlayUSA’s Eric Ramsey.  

“As big a single event as the Super Bowl is, it can’t match a month like January that had five full weekends of football games. US sports betting has predictable seasonal ebbs and flows that generally follow the football season, with a one-month exception in March because of the NCAA Tournament.” 

The NCAA Tournament, commonly referred to as March Madness, helped sportsbooks win $25.6m in gross revenue from bets placed in March.  

Although the full data from March is yet to come in, FanDuel sits in a dominant position at the head of Arizona’s market, holding off DraftKings to take $142.4m in online wagers across February.  

FanDuel’s total wagers stood at $149.8m; just $7.4m was taken from sources other than online sports betting.  

This highlights the dominance of the online space in Arizona; in fact, 99.3% of February’s statewide handle is accounted for through online sportsbooks.  

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