Arizona sets $791.2 million sports betting handle record in October

Handle for October surpassed the existing Arizona record of $759.8 million, set in March this year, by 4.1%. It also beat October 2023 by 22.1% and September 2024 by 8.1%, according to Arizona Department of Gaming data. Online sports betting spend in October amounted to $784.4 million, while retail wagering hit $6.8 million.

Players won $735.6 million across online and retail betting, leaving $53.8 million in adjusted gross receipts. This falls 6.9% short of $56.9 million in the previous year and it also lagged 31.5% behind September’s $77.4 million record.

Almost all adjusted gross receipts – $53.6 million – came from online, with retail generating just $205,230 in comparison. On this, overall hold for Arizona in October was 6.80%

After excluding $30.2 million worth of free bets, the new adjusted gross receipts total stood at $23.6 million. This is 28.5% behind October 2023 and 40.6% less than September’s $39.7 million.

Hold based on the adjusted figure against total monthly handle is 2.98%. As for tax, privilege fees amounted to $2.4 million, with all but $15,906 coming from online operators.

FanDuel still the one to beat in Arizona

Looking at individual operators, FanDuel again led the Arizona market in terms of revenue. For October, combined online and retail revenue topped $21.7 million from $252.5 million in bets, resulting in an 8.59% hold. This figure includes free bets.

DraftKings remains second despite taking more bets. It posted $15.1 million in revenue from a $261.9 million handle, leaving a 5.77% hold. BetMGM followed in third with $5.7 million off $99.5 million, meaning a 5.73% hold.

Elsewhere in the market, Fanatics saw its revenue reach $2.9 million from online operations only. It processed $40.6 million in bets for a 7.14% hold. Marginally behind was Bet365 with $2.9m off $37.7 million, meaning a 7.69% hold.

Caesars was next with $2.0 million from $44.5 million to leave a monthly hold of 4.49%. Hard Rock Digital was the only other operator to surpass $1.0 million in revenue, posting $1.2 million off $16.7 million for a 7.19% hold.

ESPN Bet dipped below the $1.0 million mark at $974,591 from $19.3 million, meaning a 5.05% hold.

 Consumers in Arizona spent a record $791.2 million (£644.2 million/€768.2 million) betting on sports in October, while revenue in the Grand Canyon State fell just short of an all-time high.