Arizona’s March Betting Handle Reaches Yearlong High At $647.7 Million

The Arizona sports betting numbers have been announced for the month of March, and the results were very positive, making it one of the top months in state history. The launch of the Arizona sports betting market has been huge since rolling out over a year and a half ago, with the state nearing $10 billion in lifetime handle. The future could be a unique one for the state, with one major sports franchise looking at relocation as the Arizona Coyotes’ future is in limbo.

Arizona Sports Betting Brings In $647.7 Million Handle In March

If March of 2023 is any indication, Arizona sports betting should continue to be a powerhouse as the numbers have impressed. The state brought in a $647.7 million handle throughout the month of March. According to ABC 15 Arizona, this makes it the second-largest handle in Arizona sports betting history. Revenue throughout the month was $53.5 million, the highest total since December of 2022. The state also collected $3.7 million in taxes throughout March.

While March 2023 was the second-highest sports betting total in Arizona history, the highest number came in March 2022, when bettors placed $690.9 million in total wagers. March Madness is one of the top events in all of sports betting, so it makes sense that March would feature some big betting numbers.

Plus, the Arizona Wildcats made an appearance in the tournament in both years, with a Sweet 16 appearance in 2022 and a first-round upset loss to the Princeton Tigers in 2023. In addition, March was the first full month with Kevin Durant playing with the Phoenix Suns as the team prepared for a postseason run.

Arizona Sports Betting Nearing $10 Billion Handle

With the addition of March’s $647.7 million handle, the total numbers for Arizona sports betting surpassed the $9 billion threshold. The Arizona sports betting market launched on September 8th, 2021, and now has a lifetime handle of $9.62 billion.

When April 2023’s numbers are reported, it’s likely that the Grand Canyon State will surpass $10 billion total. This would put the state in company with other major markets like New Jersey, New York, Illinois, Virginia, Colorado, Michigan, and Pennsylvania, each states that have taken over $10 billion in bets.

The success of Arizona’s wagering market can be seen when it’s compared to Tennessee, which has a similar population. Even though Tennessee sports betting launched earlier than Arizona (November 1st, 2020), the state has only collected $8.34 billion in total sports betting handle through April 2023.

Arizona Sports Betting Has Interesting Future

Around the kickoff of the 2023 NFL season, Arizona’s sports betting industry will celebrate its second birthday. The two-year numbers should be interesting to compare to other states, especially with more areas like Massachusetts and Ohio rolling out mobile sports betting.

One major storyline to keep an eye on is the future of the Arizona Coyotes. The franchise has some uncertainty right now following voters in the state dismissing plans for a new stadium. Since then, there have been rumors of possible relocation to another state, with Atlanta and Houston being two potential options. An interesting wrinkle of this uncertainty is the future of SaharaBets Sportsbook, a sports betting operator that has an established partnership with the team.