Arizona Record Under $500 Million Betting Handle In February 2022

• Arizona’s sports betting handle in February 2022 reached $492 million.
• This is a 12.8% drop from the $563.7 million handle in January 2022.

PHOENIX – The sports betting market in Arizona has certainly taken off since first launching in September of 2021. However, there has been a slight dip in both the betting handle and revenue numbers at the start of 2022.

Arizona sports betting got off to a scorching start to 2022 with a record betting handle of $563.7 million which resulted in $40.5 million in revenue.

However, February came around and saw the numbers take a near 13% drop on the betting handle and a 40% drop on the sports betting revenue side.

The Copper State pulled in $24.4 million in revenue from a $492 million betting handle.

Of the $492 million betting handle, just $3.5 million of it came from retail sportsbooks while the remainder was collected from legal online sportsbooks.

Also, the total promotions given out in February totaled $17.6 million compared to the $20.9 million given out in January.

Although there was a decrease in numbers, there is a light to shine on them as they became the 11th state to record a $1 billion handle for 2022.

Why The Dip?

The elephant in the room here for the decrease is that there were not many key sporting events taking place in February. January had the end of the NFL season and the NFL playoffs up until the conference championship games.

February did have the Super Bowl, but with such as low handle, it did not amount to much of what they were hoping for. The numbers could potentially see a spike back up due to the NBA regular season winding down and the NBA Playoffs beginning.

News tags: Arizona | Arizona sports betting | Arizona Sports Betting Handle | Arizona Sports Betting Revenue