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Analysts say Arizona fastest state to reach $1B in sports betting

In response to recent laws permitting bets
Posted at 5:20 PM, Jan 31, 2022
and last updated 2022-01-31 19:30:54-05

PHOENIX — The Arizona Department of Gaming is revealing that state operators took in more than $466 million in sports wagers in November.

This caps the state overall numbers at more than $1.2 billion total since sports betting went live.

PlayAZ.com lead analyst C.J. Pierre told ABC15 that makes Arizona the fastest state to reach $1 billion in sports betting.

He thinks timing was a big factor in its success.

“Football is the number one bet on sport in the United States of America, so it was perfect timing,” Pierre said. “Perfect opportunity to capitalize on something that's just kind of been bubbling under the surface here in Arizona.”

The strong start is good for the state, with all the revenue from sports betting going to the General Fund.

There are several factors that will come into play for how well betting does in the coming months.

“I expect there to be a big push and a big increase in sports betting placed once the NCAA tournament rolls around in late March, early April,” said Pierre. “There's kind of a cloud hanging over the start of the baseball season. Normally, there's some expectations on the upcoming baseball season into the summer, but with the unknown about that, that might also impact the numbers that we're seeing.”

The further the Suns go in the NBA season, the more money we could see getting placed on them as well.

The team held a 10-win streak as of Monday. They face the Nets at home Tuesday at 8 pm.