The Grand Canyon State’s sports wagering landscape witnessed a surge in January, amassing a remarkable $564 million in bets. This impressive figure established a new benchmark for the state and signified the eighth consecutive month that wagering proceeds eclipsed the half-billion-dollar threshold nationwide.
PlayAZ, a leading source on Arizona’s sports betting industry, highlighted that this record-setting accomplishment served as an ideal culmination to an exhilarating football season. Industry expert Eric Ramsey of the PlayUSA Network, which encompasses PlayAZ, observed that the elongated NFL regular season and the expanded playoff format with matches spanning five weekends in January significantly contributed to this achievement.
Ramsey underscored that Arizona’s swift rise in the sports betting realm is a testament to its opportune timing, fervent local backing, and a regulatory framework that entices prominent industry stakeholders. He added that Arizona has reaped substantial benefits from the proficiency of these seasoned operators who have refined their expertise while launching in emerging markets across the U.S. over the past four years.
Both digital and brick-and-mortar sportsbooks in Arizona experienced an unparalleled surge in wagers, reaching an astounding $5.637 billion in January, surpassing the previous high of $4.992 billion set just the prior month in December. The average daily betting volume attained an impressive $18.2 million over the 31 days of January, exceeding the $16.1 million average in December.
Since its inception in September, Arizona’s sports wagering arena has consistently flourished. While the initial handle stood at a respectable $2.912 billion, it has consistently remained above the $4.66 billion mark each month since, underscoring its remarkable and sustained expansion.
The Empire State has rapidly transformed into a sports wagering powerhouse, eclipsing even more expansive states such as Illinois, Michigan, and Pennsylvania by reaching a staggering $5 billion in total bets. This remarkable feat was accomplished in record-breaking time, establishing it as a standout player in the industry.
This surge in betting engagement resulted in substantial income for New York, yielding $19.6 million in tax revenue from a total of $200 million in gross gaming proceeds.
“A slight dip in activity following March Madness is to be expected, as it aligns with the typical ebb and flow of the sports schedule,” remarked CJ Pierre, Senior Analyst at PlayAZ. “Nevertheless, New York sportsbooks effectively leveraged the NFL season, positioning themselves favorably for a prosperous year ahead.”
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