Arizona sportsbooks reached new heights in October as consumers wagered a record $791.2 million. This means they have surpassed the previous state record of $759.8 million set in March by 4.1%. This performance also represented a 22.1% increase compared to October 2023 and an 8.1% rise from September 2024, according to the Arizona Department of Gaming.
In case you are wondering, states release their own local gambling reports at their own time and pace. So while other states have released their October numbers around November last year, Arizona takes its time in releasing the data. If you run your own sportsbook though, your payperhead software can get this done in mere seconds.
Arizona Sportsbooks Set New Betting Record
Breaking down the total handle, online sports betting dominates the market, with $784.4 million in handle. Meanwhile, retail sports betting accounted for $6.8 million. Players took home $735.6 million in winnings from both online and retail channels, leaving sportsbooks with $53.8 million in gross adjusted receipts.
While impressive, this figure marked a 6.9% decline from the $56.9 million recorded in October 2023 and a significant 31.5% drop from September’s record-breaking $77.4 million. Almost all the adjusted gross receipts—$53.6 million—came from online sports betting, with retail betting contributing just $205,230.
The overall hold percentage for October stood at 6.80%, reflecting the portion of total bets retained by operators as revenue. However, after accounting for $30.2 million in free bets awarded to players, the adjusted gross receipts fell to $23.6 million. This revised figure represented a 28.5% year-over-year decrease from October 2023 and a steep 40.6% drop from September’s $39.7 million. If you also want to track the data in your sportsbook, check the sportsbook management features offered by your bookie pay per head service. Aside from generating data to see your finances, you can also generate data to help you find ways to generate more revenue.
High Handle but Declining Revenue
Based on the adjusted receipts, the effective hold against the total monthly handle was 2.98%. Despite the lower adjusted receipts, sports betting operators in Arizona contributed $2.4 million in privilege fees (taxes) for the month. Of this amount, nearly all—$2.38 million—was generated by online operators, while retail contributed a modest $15,906.
The October figures demonstrate both the potential and challenges of Arizona’s sports betting market. On one hand, the record handle highlights the demand for sports wagering among Arizona residents. This is driven by a busy sports calendar that includes NFL games and other high-profile events. On the other hand, the dip in adjusted receipts and effective hold reveals the pressures sportsbooks face in balancing promotional incentives with profitability. As a bookie, this task becomes easier with your sports betting software.