Analysis: One year’s worth of Arizona’s sports betting data - Phoenix Business Journal

For more than a year now, Arizona has been home to legalized sports betting. Based off the data released by the state, it has been a big win for most involved.

For the entire year, more than $5.4 billion was wagered in Arizona across 18 mobile betting apps and a handful of retail sportsbooks, racing tracks and bars and restaurants. In total, Arizonans won just over $5 billion from the sportsbooks in the first 12 months they were in operation. SaharaBets, the mobile betting platform connected with the Arizona Coyotes and owned by Coyotes owner Alex Meruelo, took in the least amount of money wagered out of all mobile sportsbooks with just over $461,000. SaharaBets is only operating in Arizona and didn’t start up until January 2022.

Sports betting fees are calculated differently than most other taxes. The state collects fees based off how much sportsbooks earn after winning wages are paid out rather than just on revenue. So if a sportsbook paid out more in bets than it took in for a month, it was not obligated to pay any fees to the state. For example, Unibet paid out $2,304.51 more than it took in during August, so it was not obligated to pay privilege fees for the month.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Phoenix Suns exec Jeffrey Marcussen faces prison over ticket scheme - Phoenix Business JournalCourt documents show that the former ticket office executive took in a six-figure sum by unlawfully selling unused Suns tickets on a third-party ticket vendor site for his own profit.
Source: phxbizjournal - 🏆 254. / 63 Read more »

PGA ‘elevates’ WM Phoenix Open, increases purse - Phoenix Business JournalEven though the WMPO is the most attended PGA Tour event every year, there is expected to be even more eyes on the upcoming tournament, which will be played Feb. 6-12, 2023 at TPC Scottsdale, because it will take place the same weekend that the Super Bowl will be played in the Valley.
Source: phxbizjournal - 🏆 254. / 63 Read more »

SBA aims to overhaul its Small Business Investment Company - Phoenix Business JournalProposed reforms to the SBA's SBIC program would loosen some requirements on how companies could use the money. Here's what businesses need to know.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Three migration patterns that will shape the post-pandemic era - Phoenix Business JournalFrom new trends in the soaring Sun Belt to heavy losses for some heavy hitters, here's a look at migration patterns that are likely to shape the economy in the post-pandemic era.
Source: phxbizjournal - 🏆 254. / 63 Read more »