In the latest online gambling news, Arizona sports betting activity increases in January, which is a great start for the year. According to the Arizona Department of Gaming, sportsbooks in Arizona have a total handle of $591.2 million in bets in January. The Grand Canyon State saw an increase in handle from December’s $572.5 million. And for those looking for year-on-year data, January 2022’s handle is $563.7 million.
Using an online bookie software is easy and convenient for bookies to manage a sportsbook. Similarly, betting through online sportsbooks is easy and convenient as well. Arizona offers both retail and online sports betting, which explains why the state has more than half a billion in monthly handle. And with local teams like the Phoenix Suns doing well in the NBA, its no surprise that wagering will grow in popularity as well.
Arizona Sports Betting Activity: Handle and Revenue Numbers
The adjusted gross revenue for the month is at $46.2 million for the month, giving us a 7.8% hold percentage for January. But looking at the gross revenue is not enough if you want to know more about sportsbook management.
Using the best sportsbook pay per head software will help you minimize any operational expenses, but there are other items that bookies spend on. There are payouts, marketing expenses, promotional credits and bonuses, and the like. For sportsbooks in Arizona, $17.2 million goes to free bets and promotions, which brings down th sports betting revenue in the state to around $29 million. The state takes 8% in retail betting and 10% on online wagers, which means that Arizona earns $2.9 million in taxes from sports betting in January.