Arizona Sports Betting Gains on Nevada
Record-Setting March Narrows Gap Between States
For years Las Vegas was the sports betting capital of the United States. That began to change when the U.S. Supreme Court overturned PASPA and allowed states to offer legal sports betting in 2018.
States with bigger populations, such as New York and New Jersey have passed Nevada in terms of sports betting handle. That makes sense considering New York has more than six times the population as Nevada. New Jersey has almost three times the population.
The latest state to pose a threat to Nevada sports betting is a little more worrisome. It’s Nevada’s neighbor to the southeast, Arizona, which is quickly gaining ground. Arizona sports betting reported a record handle of $760 million in March, while Nevada received $784 million in wagers.
- Arizona showed a 17.8% increase from March 2023 betting handle. Nevada showed a 5.5% decrease from March of the previous year.
One reason for the high Arizona sports betting numbers was due to the NCAA Tournament. Not only did the state host the Final Four at State Farm Stadium in Glendale, but the Arizona Wildcats advanced to the Sweet 16.
Those two things helped with the March Madness betting totals. The state pocketed $3.78 million in fees for March in addition to all of the revenue the Final Four brought in. March was a good month for Arizona on several different fronts.
Online Betting is King in Arizona
One of the biggest differences between Arizona and Nevada is where sports wagering takes place. In Arizona, online betting reigns supreme.
March saw $7.4 million wagered at retail establishments, while $752.3 million was wagered through betting apps. In Nevada, close to one-third of the wagers are placed at retail sportsbooks, with two-third being placed through betting apps.
Nevada’s in-person registration requirement could be keeping some people away from mobile wagering. Since it’s easier to use a sports betting app and place a bet than it is to drive to a sportsbook, the state could be losing some sports betting revenue with its registration requirement.
That is something the State of Nevada will need to look at it in the future.
DraftKings, FanDuel Battle for Top Dog
It’s little surprise to see FanDuel and DraftKings fighting it out for the top spot in Arizona sports betting for March.
When the dust cleared, FanDuel showed sports betting handle of $265.1 million in mobile wagers compared to DraftKings, which reported $255.3 million in mobile bets. DraftKings had a slight edge in retail handle, but it wasn’t enough to pass FanDuel for the month of March.
BetMGM had the third-highest handle among Arizona sportsbooks in March after receiving $93.9 million in online wagers, while Caesar’s was fourth with $50.7 million.
- Bet365 was fifth with $29.2 million, followed by ESPN Bet, which took in $26.9 million in wagers.
No other sportsbook received $10 million in wagers, although Seminole Hard Rock wasn’t far behind with a little more than $9 million in wagers.
After deductions for free wagers and promotional credits, Arizona’s online sportsbooks reported revenue of $37.1 million for March. Retail sportsbooks reported a little more than $800,000 in revenue for the month.
For gambling news, odds analysis, and more, visit Point Spreads Sports Magazine.
