Arizona sports betting revenue for January was $522 million on $564 million total wagers. Online apps licensed to Native American tribes and professional sports teams got most of the wagers in the month.
According to pay per head reports, the month-to-month report from the Department of Gaming on results from January showed the 12 internet-based sportsbooks. In addition, two physical sportsbooks made more than $40 million after taxes.
However, they offered more than $20 million in free wagers. That left $19.6 million subject to state charges, which added $1.9 million. The state requires an 8 percent tax on retail bets. On the other hand, mobile apps have a 10 percent tax.
Arizona Sports Betting Revenue
The free wagered credits, intended to attract players, get rid of more than quite a while. They start at 20 percent of gross receipts in the initial two years. Afterward, it drops to 15 percent and 10 ten before finishing off with the 6th year.
The other wagering authorized under the 2021 sanctioning, fantasy sports, saw $3.9 million in section expenses and benefits before state duties of $431,000. In addition, the state charged 5 percent on fantasy sports benefits and acquired more than $21,000.
According to bookie software experts, fantasy sports wagering launched in late August, and all-out sports wagering on September 9.
Between the launch of sports wagering and the year’s end, players bet more than $1.7 billion, and the games books made about $60 million in benefits. That prompted charges paid to the condition of $6.1 million.
Estimates generally differ for how much money the state will take under the sanctioned games wagering regulation, endorsed by Governor Doug Ducey in April, alongside refreshed ancestral gaming compacts. According to sports betting software reports, the Legislature’s spending plan experts assessed more than $15 million every year, while industry advocates put the number a lot higher. Republican Representative Jeff Weninger of Chandler said the bill support might be $100 million every year.
