Phoenix

Legalized sports betting shows massive success in first year

The state ranks among the many high 6 states for sports playing after a year of legalized betting.

PHOENIX — For solely the twenty seventh time ever, 5 massive sports leagues are all taking part in on the identical day.

It’s known as the ‘Sports Equinox,’ which as you possibly can think about is a dream day for sports followers. It’s additionally a giant day for sports betting, particularly in Arizona, which marked one year of legalized betting in September.

Upon reaching the one-year mark of legalized sports betting, the Arizona Department of Gaming launched its remaining month-to-month report of the year.

“Outside of New York, we were the fastest state to reach a billion dollars of total wagers,” stated Max Hartgraves.

Hartgraves is with the Arizona Department of Gaming. He says legalized sports betting has exceeded expectations.

“We’ve seen over $5.4 billion wagered in the state in its first year of legal operations and that’s resulted in just over $20 million in privilege fees, $21 million in privilege fees actually to the state from these new games,” he stated.

The newest figures additionally present progress. In August, Arizonans wagered greater than $360 million. Of that, the state collected nearly $2.8 million, which is an 85% leap from July.

“It’s in line with what we expected,” stated WagerArizona.com/Gambling.com group analyst, Christopher Boan. “The state of Arizona has consistently over the last 5 or 6 months been the number 6 market in the country. So yeah, I think it’s been a successful endeavor so far, anytime you have a state chasing down Pennsylvania which has had sports betting since day one, that’s remarkable at this point.”

Boan says the state is on monitor to changing into a robust market.

“Arizona has been a success story for sports betting in America,” he stated. “It’s been a state that’s punched above its weight class.”

After Thursday’s ‘Sports Equinox, it is anticipated there will be three extra in October alone. Arizona can even be the first state to host the Super Bowl with legalized sports betting.

“I’m excited to see how the industry will shape up,” stated Hartgraves. “It’s hard to tell, we got through our first year it was really strong so I’m looking forward to see if the industry will continue to grow year over year.”

RELATED: Arizona ranks amongst high 6 states for sports playing after a year of legalized betting

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