Arizona State posts its most significant monthly profit of $691 million
The sports betting market has increased in the state of Arizona. In March alone, this industry was able to bring in more than $691 million in profit. Recently, sports betting has been legalized in the state. As a result, online and offline betting popularity has increased significantly. Compared to the effects of previous months, the industry is breaking records. It is assumed that these figures will only grow in the future, allowing you to increase the profitability of a business in the region.
March is a record month for sports betting in Arizona
March has been a strong month for sports betting fans in Arizona. For the first time in a long time, sports betting was launched in September after receiving official approval from the state. As a result, public attention to online gambling has increased significantly. Now many people actively follow the events in the world of sports and start betting to make a profit. Due to increased attention to the industry, earnings on rates also increased. As a result, the players brought in more than $691 million in profit in just one month, indicating good prospects for this region.
This figure is 40% higher than similar indicators in February compared to the same parameters. Part of this money is earned directly by the players themselves. According to official figures, more than $652 million has been returned to gambling players. This figure is not exact but reflects the result of the legalization of sports betting.
The profitability of gambling operators has also increased in this state. It amounted to about 37.2 million dollars. At the expense of taxes, the state could also receive at least $1.86 million to replenish the treasury, one of the highest figures. Under the new law in force, gambling operators must return at least $18.6 million to their players to secure free sports betting. Due to greater convenience and simplicity, almost all bets are made in online establishments.
Comparison of results with previous months
Record figures appeared for the first time in previous months. Before that, there was a relatively significant decline in the sports betting industry. It is caused by the lack of major sporting events and the unwillingness of the players to invest.
If we compare the March figure with the February one, we can see a significant difference. Then the profitability of sports betting was only 24 million dollars. Of course, the popularity of sports betting is not lost. At the same time, other types of gambling are also gaining popularity. At the same time, the gambling market in Arizona is constantly developing, which allows us to talk about a possible rise soon. Currently, the state is in sixth place in ranking the most profitable. It is believed that this figure will increase significantly over time.
Alex
Author & Guarantor
Alex is Gamble Critic editor, working to improve our list of online casinos and supporting our casino review team.
Last updated: 21.03.23
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