In October, Arizona sports betting transaction totaled $648.2 million.

In October 2023 Arizona' sports betting handle reached $648.2 million, a 4.8% increase from October 2022 and 6.2% higher than September 2023 ($610.7 million).

Nearly 99% of the handle came from mobile betting. Revenue was $55.59 million, a 7% decrease from September ($59.7 million).

Free bets and credits amounted to $22.6 million, mainly from online operators. Adjusted gross receipt after discounting free bets totaled $33 million.

 

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It's impressive to see that Arizona's sports betting handle in October 2023 reached $648.2 million, which marks a 4.8% increase compared to October 2022. This growth is a positive sign for the state's sports betting market.

Furthermore, the figure of $648.2 million represents a 6.2% rise from September 2023, where the handle stood at $610.7 million. This substantial month-over-month increase indicates a growing interest among Arizona residents in participating in sports betting activities.

What's particularly interesting is that nearly 99% of the handle came from mobile betting. This highlights the convenience and popularity of mobile platforms when it comes to sports betting in Arizona. Mobile betting allows users to place wagers from the comfort of their own homes or on-the-go, making it incredibly convenient for enthusiasts.

In terms of revenue, October generated $55.59 million, which is a decrease of 7% compared to September's revenue of $59.7 million. While a decrease in revenue can be seen as a setback, it's essential to consider the overall upward trend of the handle. Fluctuations in revenue are not uncommon in the sports betting industry and can be influenced by various factors such as the performance of professional sports teams or the popularity of particular events.

Moreover, it's worth noting that free bets and credits amounted to $22.6 million, with online operators primarily contributing to this figure. These incentives provided by online operators help attract and retain bettors, incentivizing them to participate in sports betting. However, it's crucial to discount these free bets and credits when calculating the adjusted gross receipt. After such adjustments, the adjusted gross receipt for October totaled $33 million.

Overall, October was an eventful month for Arizona's sports betting market, with a significant increase in the handle and a predominant reliance on mobile betting. While revenue experienced a slight decline, the long-term growth and potential of the industry in Arizona remain promising.