of Arizona Game Department Reported sports betting the handle of $616.9 million in Novemberto create the first $10 billion monthly national handle. post-paspa era.
The total landed at $10.016 billion in accepted stakes across 26 states and Washington DC, surpassing the previous record of $9.84 billion established in January 2022. This is a 59.6% increase compared to the $57.8 billion wagered in 2021. Arizona, the last state to publish the monthly report, finished sixth nationally in handle counts for the month of November. new york, new jersey, IllinoisNevada, and pennsylvania.
November figures were Arizona’s first time clearing $600 million in a row, but off 0.3% $618.6 million in OctoberThe record in Grand Canyon State is just below the $691 million set last March. Arizona became her 7th state to surpass $5 billion in calendar year 2022 and her 10th state to surpass $7 billion in history.
“We are pleased to see stateside patrons bet more than $600 million on sports for the second month in a row,” said Ted Voigt, director of the Arizona Gaming Authority, in a statement. Stone highlights Arizona’s strong sports betting market, which has already established itself as one of the nation’s top 10 markets.”
The $56 million gross revenue claimed by the Arizona sportsbook before deductions was promotionand losses from some operators surpassed September’s $55.2 million in winnings, setting a new monthly record.
The state was eligible to tax $38.8 million in adjusted revenue, bringing its tax revenue to $3.9 million for the month. The state generated her $25.2 million in tax revenue in her first 11 months of the year. In November’s total, her total stakes over the 15 months brought her to $31.1 million.
FanDuel and BetMGM continue to go public
FINAL NOVEMBER TOP 10 #sports betting Handles by state:
1 New York – $1.56 billion
2 New Jersey – $1.1 billion
3 Illinois – $1.03 billion
4 Nevada – $927.9 million
5 Pennsylvania – $789.2 million
6 Arizona – $617.9 million
7 Colorado – $552.6 million
8 Virginia – $518.8 million
9 Michigan – $498.1 million
10 Indiana – $452.3 million— Chris Altruda (@AlTruda73) February 2, 2023
Arizona’s overall gross revenue withholding was 9.1% in November, fan duel and Bet MGM Consistently surpassing that mark. Only FanDuel mobile The Grand Canyon State operator recorded gross monthly revenue of at least $20 million, pushing the bar above $25 million thanks to a win rate of close to 13%.
It also paced all mobile operators with $5.5 million in promotional spending, but still had adjusted revenues of $19.1 million in November, of which the state claims 10%. FanDuel said he has recorded his double-digit holds for five straight months, seven of the last eight.
BetMGM also extended its double-digit hold to five times, reaching 10.9% in November and generating $10.2 million in revenue from $93.9 million wagered. He is second in promotional spending at $4.6 million, and additional deductions leave the state eligible to tax his $5.4 million, just over half of the total. His BetMGM deductions for the first 11 months of 2022 totaled $55.7 million, which is the highest in the state and more than half of his $96.8 million in total earnings.
draft kings claimed the November handle crown, pushing its $200 million handle month winning streak to just three. However, that holding is just under 6% of his, with a slight month-over-month increase in total revenue to $11.9 million. His November merchandising for DraftKings was soft, with his taxable adjusted earnings at $8.1 million, an 11.8% increase over October.
caesars sportsbook was a comfortable fourth handle, winning $61.7 million in bets and thanks to an 8.5% hold, total revenue jumped 34.7% from October to $5.3 million. It’s also just below his $5.1 million posted in September, clearing his $4 million in adjusted earnings for the second time since launch.
bar stools sportsbook We hit this benchmark for the first time since winning $21.4 million in wagers back in January. The total earnings of $1.2 million is his second seven-figure total in three months, and his fifth in 15-month wagering.
The sixth and final operator to record eight-figure handles was Desert Diamond Mobile, which reached $11 million, surging for the second month in a row. The local organization, run by the Tohono O’odham Tribe, took him from $1.9 million in September to nearly $5 million in October and his November bet doubled again. became. But November’s earnings didn’t keep pace, rising just $3,298 to $412,291.
Caesars hits retail side
Face-to-face betting continues to prove more difficult for retail sportsbooks in Arizona, with Caesars and FanDuel making monthly losses. Caesars hit him the harder of the two, and he paid out $109,000 on top of his $1 million-plus bet that was accepted. It was his worst loss of the month, surpassing his $89,000 payout in May over bets.
FanDuel’s retail outlets have suffered a loss for the second straight month and the fourth loss in six months, but the $45,000 payout over $2.9 million in handles ended in a loss of $186,00010 Improved from month.
Among exclusive event betting operators, Harold’s posted its third five-figure monthly loss in the last four years, trailing just $116,000 in stakes by $19,000. The Cave Creek-based Country and Western venue used Unibet to show a minus 5.3% win rate through its first six months of operation, paying out $22,000 over its total $414,000 handle .
The Road to $10 Billion Monthly Handles
It’s somewhat daunting that the national sports betting handle has reached 11 figures less than five years after it was legalized state by state. US Supreme Court voids PASPAEven post-pandemic growth is staggering — with more states coming online and NFL went all in on the bet connected throughout the product; and New York dramatically boosted steering wheel totals It launched on mobile early last year.
The industry has come a long way since June 2018 when Nevada, Delaware and New Jersey combined brought in $310 million in revenue. Tennessee and LouisianaBut it was a bumpy road at times. November’s $10 billion-plus handle was nearly 72 times his $139.2 million in April 2020’s pandemic gambling trough, and July’s $4.5 billion was his 2022 year-end. It was more than double his lowest score.