The western American state of Arizona kicked off its regulated online and land-based sportsbetting market from September 9 and reportedly went on to chalk up the busiest opening month in the history of the nation’s embryonic legalized sports wagering industry.
According to a Friday report from the online gambling news domain at PlayAZ.com, sportsbetting aficionados in ‘The Grand Canyon State’ wagered $291.2 million over the course of September, which was far beyond the previous first-month post-PASPA record of $131.4 million set by Tennessee in November of 2020. To put this debut into further context and the source detailed that the heavyweight New Jersey market did not manage to surpass the $290 million monthly handle figure until registering $385.3 million in its ninth month.
Benefits bonanza:
This performance reportedly led to Arizona’s collection of online and land-based sportsbooks generating some $32.3 million in aggregated gaming receipts for the three weeks to September 30, which was also a first-month record, as well as approximately $31.6 million in net revenues. All of this purportedly came off of the back of $31.2 million in promotional credits and saw the state tax $392,418 in gross event wagering receipts to benefit to the tune of $31,293.
Significant serendipity:
Eric Ramsey serves as an analyst for PlayAZ.com and he reportedly explained that Arizona premiered its regulated sportsbetting market on the very same day as the commencement of action from the latest season of the National Football League (NFL). He purportedly went on to assert that this, when combined with the initial performance of the state’s Arizona Cardinals gridiron franchise, had produced a ‘hot start’ that made it easier for local operators ‘to engage new bettors and quickly grow their customer base’.
Ramsey reportedly stated…
“Football is the straw that stirs the sportsbetting drink so launching ahead of the NFL’s first game and with college football going full tilt was critical. Most of the country’s best-known sportsbook brands jumped in early, too, and with nearly a full month to operate it made for a remarkable debut.”
Dramatic debuts:
In terms of the big September players in Arizona and PlayAZ.com reported that the mobile-friendly service from DraftKings Incorporated topped a seven-strong club with handle of some $97.7 million and about $12.7 million in associated gross revenues. It was purportedly followed by rival FanDuel Group amassing $57.7 million in online bets and $1.9 million in retail wagers that yielded gross receipts of around $594,897.
Exciting expectations:
Another analyst from PlayAZ.com, CJ Pierre, reportedly pronounced that it now ‘won’t take long’ for Arizona to begin competing with some of the more established jurisdictions in the world of American sportsbetting such as Nevada, Illinois, Pennsylvania and Indiana. This expert purportedly furthermore disclosed that other well-known sports wagering brands including Caesars Sportsbook, Unibet and TwinSpires have since gone live in the western state of nearly 7.2 million people to join a club that had already encompassed pioneers WynnBet, BetMGM and Barstool Sports.
Pierre’s statement reportedly read…
“Arizona has enormous potential as a market but it is encouraging for the industry to see such a strong debut. Setting a record in the first month would qualify as getting the market off on the right foot and the next question is how quickly the state can ramp up and compete with more established markets.”
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