Sports Betting News: A Look At The Arizona Market After Two Years
In recent sports betting news, Arizona saw a major spike in activity in its second full year. Illinois surpassed $25 billion in lifetime handle. Also, the Hard Rock Casino in Florida seems to be preparing for the return of sports betting. We will break down all the recent news in the sports betting industry.
Arizona Clears $6 Billion In Second Full Year Of Sports Wagering
The Arizona Department of Gaming released the August sports wagering report for 2023. Sportsbooks saw $358,875,474.29 in wagers for the month. August marked two years since the launch of sportsbooks in Arizona.
With the August sports betting handle, Arizona’s total wagering handle from September 2022 to August 2023 is $6,253,860,139. Combined with the $5,434,212,182 in betting handle from the first year of wagers, the total lifetime handle in Arizona is $11,688,072,321. Year two saw a large spike in the popularity of sports betting compared to the previous year.
Arizona operators saw $546,582,076 in gross revenue year to date off of an 8.74% hold rate. The Grand Canyon State raked in $35,038,662 in taxes during that stretch. This is up from the $413,746,903 in gross revenue from year one and $21,246,821 in state taxes.
In total, operators have seen $960,328,979 in gross revenue and $56,285,483 in taxes since launch. The Arizona market has been a major success.
Illinois Reaches Major Sports Betting Milestone
With the release of the August spore betting report, Illinois sportsbooks have surpassed $25 billion. Illinois has become the fourth sports betting market post-PASPA to reach this milestone, joining New Jersey, Nevada, and New York. It took Illinois 40 months to achieve this milestone.
Illinois ranks third in the U.S. with sports betting in August, seeing a reported $676.1 million in wagers. Only New Jersy ($725.8 million) and New York ($1.12 billion) have seen more wagers. So far in 2023, Illinois bettors have wagered $6.7 billion.
August 2023 Sports Betting Handle Top 10
- New York $1.12B
- New Jersey $725.8M
- Illinois $676.1M
- Nevada $431M
- Pennsylvania $393M
- Ohio $379.5M
- Arizona $358.9M
- Virginia $319M
- Massachusetts $314.9M
- Maryland $263.7M
Florida Sports Betting Jobs Posted
The Florida sports betting is still embroiled in legal drama. However, this hasn’t stopped the Hard Rock Casino from preparing for the eventual return of local sportsbooks in the Sunshine State.
The Hard Rock Casino in Hollywood, Florida, is hosting a hiring event on Thursday, Oct. 19. The event will be centered around hiring for sportsbook employees. Qualifications include experience in the gaming and sportsbook industry, as well as customer service.
While this job listing only indicates the potential for a retail sportsbook to go live, it does indicate movement in the sports betting industry in Florida. The launch of retail could be followed by online sports betting going live.