Arizona’s sportsbooks have posted an accumulated handle just shy of $500m this February.
The data reveals that the latest handle figures have taken Arizona’s generated funds from wagers to $3bn over the first six months of operation.
Analysts at PlayAZ note the sizeable impact the Super Bowl had on keeping business brisk at Arizona’s sportsbooks, which accounted for a large portion of the $500m taken during February.
In February, the average bettors made $17.6 million in wagers per days, an increase of $18.2m from January.
Despite Super Bowl’s success, February was the first month of a decline in betting on sports since Arizona became an active market. It marked a 13% decrease from the $563.7m record that Arizona sportsbooks had collected in wagers in January.
PlayAZ has not expressed concern that February will mark the beginning of a market decline, but cited the shortening of the month as a reason. —Only one NFL game played — as the key reason for the modest downtick in revenue figures.
“Arizona is following a similar pattern to more mature markets”, claimed PlayUSA’s Eric Ramsey.
“As big a single event as the Super Bowl is, it can’t match a month like January that had five full weekends of football games. US sports betting has predictable seasonal ebbs and flows that generally follow the football season, with a one-month exception in March because of the NCAA Tournament.”
March Madness was also known as NCAA Tournament. This tournament helped sportsbooks make $25.6m from March-related bets.
Although the full data from March is yet to come in, FanDuel sits in a dominant position at the head of Arizona’s market, holding off DraftKings to take $142.4m in online wagers across February.
FanDuel’s total wagers stood at $149.8m; just $7.4m was taken from sources other than online sports betting.
This highlights the dominance of the online space in Arizona; in fact, 99.3% of February’s statewide handle is accounted for through online sportsbooks.
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