The Arizona Department of Gaming reported a record monthly total for sports betting handle Tuesday as operators accepted $760 million worth of wagers for March.
The month’s total topped the previous record of $713.6 million set last November and was 17.8% higher compared to the $644.8 million in accepted bets in March 2023. It was the third time in the last five months handle in Arizona eclipsed $700 million as all-time wagering cleared $16 billion after 31 months.
Operators generated $59.3 million in gross sports betting revenue prior to any deductions being counted, resulting in a 7.8% hold. After deductions for the federal excise tax, promotional credits and bonuses, and operator losses, the state was eligible to levy taxes on $38 million in adjusted gross revenue. That provided close to $3.8 million in taxes, and the $11.2 million worth of levies for the first quarter of 2024 is $3 million ahead of last year’s pace.