Arizona’s first year of legalized sports betting cashes in - Phoenix Business Journal

“A year ago I was thinking maybe if the state is lucky, it might at some point this year hit $500 million for wagers in a single month,” said Chris Boan, lead writer for BetArizona.com. “And it’s hit that number three times and two other months it was above $490 million and was within an eyelash of that $500 million benchmark.If there were any qualms about legalizing sports betting in Arizona before last September, they have mostly dissipated.

“Just from privilege fees and licensing fees we’ve had over $30 million contributed to the state general fund, so that is definitely a positive from sports betting and fantasy sports,” Hartgraves said. “Not to mention new employees, new companies coming into the state.” Over $100 million is an understatement. From July of 2021 to June 30, tribal gaming contributed $123 million.Rather than resting on its laurels with the money generated from the tribal side, some observers think Arizona should do what it can to maximize the profits even more. Part of what has made Arizona so successful in just one year is the state’s approach to sports betting, said B Global managing partner Brendan Bussmann.

This past March, the most popular month for sports betting, bettors wagered over $690 million in Arizona. Of that, only $3.3 million came from retail gambling. Former Michigan legislator Brandt Iden believes there is more than meets the eye when it comes to gambling legislation.

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