The Copper State shattered its former sports wagering handle benchmark in January, hitting an astounding $564 million.
This achievement marked it as the eighth state to eclipse half a billion dollars in a single month. The impressive commencement to the year for the state known for the Grand Canyon was driven by a packed NFL playoff calendar, featuring five weekends of postseason competition.
Industry expert Eric Ramsey, affiliated with the PlayUSA network, observed that “Arizona enjoyed the advantage of an additional week of regular season contests and a five-week NFL postseason.” He elaborated that the state’s swift rise is attributable to “flawless timing, pent-up desire from inhabitants, and a regulatory structure that drew in a prestigious lineup of national sportsbook providers.”
As sports wagering began its nationwide expansion four years ago, prominent operators have accumulated expertise in entering new territories, and Arizona has reaped the rewards.
Collectively, Arizona’s digital and physical sportsbooks processed $5.637 billion in bets for January, exceeding the prior peak of $4.992 billion established in December. The typical bettor placed $18.2 million per day throughout the 31-day period, an increase from $16.1 million in December.
When Arizona’s sports betting market opened in September, the handle stood at $291.2 million. However, each subsequent month has witnessed at least $4.66 billion in wagers.
The Big Apple has rapidly transformed into a sports wagering titan, eclipsing even more expansive states such as Illinois, Michigan, and Pennsylvania in earnings. Remarkably, it took a mere fraction of the time for the Empire State to amass half a billion dollars! This phenomenal achievement is propelled by immense betting activity, clearly demonstrated by the almost $20 million in tax receipts generated from a staggering $196 million in overall sports wagering income.
Although specialists like CJ Pierre, Principal Analyst at PlayAZ, anticipate a potential decrease in the approaching months due to the inherent seasonal pattern of sports betting following March Madness, he maintains a positive outlook. New York’s astute leveraging of the NFL season has established a robust base for sustained expansion in the year to come.
