Arizona witnesses a total sports betting handle of nearly $500 million in December 2021
Arizona came up just short ofbreaking the half-billion mark in sports betting handle for December, according to the state's Department of Gaming. With the recent addition of SuperBook and Fubo, the Copper State still managed to eclipse the October record of $486.1 million, with a hefty $499.2 million in wagers placed in December. In the four months since launch, Arizona has solidified its place as a top-10 national market, generating nearly $1.75 billion in bets.
Operators saw a slight decline in gross gaming revenue compared to November, with close to $38.6 million in total earnings. The 7.7% win rate for December dropped three full percentage points from the previous month, with operators reporting over $21.3 million in promotional credits and free bets. This left nearly $17.3 million available for state taxes, a 45.8% decrease from November's revenue. It's important to note that 99% of Arizona's sports betting handle comes from mobile and online sources.
With DraftKings, FanDuel, and BetMGM leading the way, Arizona's new mobile operators have made a considerable impact in the sports betting landscape. All three operators claimed over $100 million in handle for December, with DraftKings taking the lead at $146 million, followed closely by FanDuel ($128.5 million) and BetMGM ($103.8 million).
DraftKings edged out FanDuel for most gross operator revenue, with nearly $11 million compared to $10.7 million. However, FanDuel reported a significant decrease in promotional spend, dropping 24.9% compared to 5.9% for DraftKings. This resulted in FanDuel reporting nearly $7.2 million in adjusted revenue, narrowly outpacing its rival. It's worth noting that DraftKings has shelled out nearly $30 million in promotional credits and free bets in Arizona since launch, compared to FanDuel's $20.2 million.
BetMGM has remained aggressive with promotions, with December representing no exception. The operator recorded $8.8 million in gross revenue, 86% of which went towards promotional credits and free bets. Its overall spend of $26.3 million accounted for 72% of its $36.6 million in gross revenue.
Caesars rounded out the "Big 4" with a 16.4% increase in handle from November, closely following close to $520,000 in taxable revenue. Barstool Sportsbook and WynnBET trailed behind the top contenders, with Barstool's monthly handle slipping 42.2%, while Wynn's GGR was nearly halved from the previous month.
Two newcomers, SuperBook and Fubo, entered the market shortly before Christmas. Though Superbook handled nearly five times more bets than Fubo in December ($170,000 versus $34,497), Fubo narrowly held onto a winning record against bettors, coming out ahead by close to $3,500. SuperBook reported a 21% win rate, resulting in nearly $36,000 in gross revenue, while only $1,754 of that was eligible for taxation.
Industry trends suggest that well-established operators such as DraftKings, FanDuel, and BetMGM typically perform well in new markets due to their strong brand recognition and user-friendly platforms. However, specific data for their performance in individual states can vary depending on a number of factors. For detailed performance metrics, such as handle and revenue figures, it's important to reference state-specific reports or industry analyses.
Line after line, sports bets were placed in Arizona's booming sports-betting market, with operators like DraftKings, FanDuel, and BetMGM leading the charge in December. In the competitive landscape, DraftKings claimed the highest sports betting handle, followed by FanDuel and BetMGM, each surpassing $100 million in wagers.
