Hardwood timber Arizona reported a record sports betting handle for the second consecutive month during November 2024, while the Grand Canyon State also saw revenue reach an all-time high.
Spending on sports betting in November hit $897.6 million (£708.2 million/€856.6 million). This beat October’s prior record of $759.8 million by 18.1% and was also 25.8% ahead of the previous year in Arizona.
Data from the Arizona Department of Gaming shows online spending amounted to $890 million, while retail wagers topped $7.6 million.
Consumer winnings across online and retail totalled $811.3 million. As such, adjusted gross event wagering receipts hit an all-time high of $84.1 million. This beat the previous record, set in September 2024, by 8.7% and was almost double November 2023’s total.
Online betting drew $83.3 million of all adjusted gross event wagering receipts during the month. In contrast, retail sports betting generated just $773,634.
Free bets in November amounted to $26.6 million, meaning adjusted gross event wagering receipts after free bets hit $57.5 million. This beat the previous year by 183.3%.
Handle-wise, based on adjusted gross event wagering receipts before the deduction of free bets, the monthly figure was 9.37%. After taking off free bets from the receipts total, handle in November stood at 6.41%.
FanDuel continues to lead DraftKings
Flutter Entertainment-owned FanDuel remains the one to beat in Arizona. During November, it posted $29.9 million in adjusted gross event wagering receipts, before free bet deductions, off a $288.6 million handle. This resulted in a 10.36% monthly hold.
DraftKings was again close behind in second, taking $25.7 million off a higher handle of $293.4 million. As such, it was left with an 8.76% hold for November.
BetMGM completed the top three with $12.7 million in total adjusted gross event wagering receipts from a $111.6 million handle, meaning an 11.38% hold.
Caesars reported $4.0 million in combined online and retail revenue from a total handle of $52.5 million. Its hold for the month was 7.62%.
Fanatics took $3.8 million in revenue, all of which was online, off $42.2 million in handle for a 9% hold. Next was Bet365, with $3.2 million, again all online, from $39.2 million, resulting in an 8.16% hold.
ESPN Bet followed with $2.3 million in online revenue off $28.4 million, meaning an 8.1% hold. Hard Rock Digital was the only other operator to surpass $1 million in revenue, reporting $1.4 million from $20.4 million in wagers for a 6.86% hold.
Tax-wise, Arizona collected $5.7 million in total during November. Of this, almost all came from online sports betting, which is taxed at 10%. Retail betting, taxed at 8%, generated just $57,358.