Arizona Sports Betting Shows No Signs of Slowing Down

Arizona Sports Betting Shows No Signs of Slowing Down

Last updated on May 18th, 2024 at 05:18 am

The Arizona sports betting market is celebrating its sixth anniversary. Since its launch, the industry has become vital to the sports world. It is now difficult to watch a sports event without seeing some type of marketing for sportsbooks or betting on it. As a result, sports betting handle and total revenue in Arizona achieve record highs each year.

The surge in sports betting activities is not limited to Arizona. In 2023, Americans collectively wagered a staggering $119.84 billion on sports, marking a 27.5% increase from the previous year. This surge in betting activities translated into a 44.5% rise in total income, reaching a substantial $10.92 billion.

The fact that more and more places made sports betting legal last year was a major factor in the figures. Along with Washington, DC, North Carolina joined 38 other states that provide legal sports betting markets and 30 more states that allow mobile sports betting, as the American Gaming Association reported. Those marketplaces are home to almost 2/3 of the adult population in the United States. According to sportsbook pay per head reviews and news sites, sports betting has increased tax income for several states.

Arizona Sports Betting Industry and the Rest of the US

Arizona Sports Betting Shows No Signs of Slowing DownWith sports betting becoming increasingly a staple in the sporting world, one must wonder if this trend will ever level out. Although it would be a simple statement, the exponential expansion of sports betting shows no signs of slowing down anytime soon. 38 states have now allowed sports betting, with 12 more that may reconsider their stance in the future, but this is highly unlikely. Nevertheless, bills are still pending in Minnesota, Oklahoma, and Missouri.

The most giant domino to fall are the states of California and Texas, which have not authorized sports betting. According to a gambling software company, legalizing sports betting has been an uphill battle in the two most populous jurisdictions in the country.

The potential legalization of sports wagering could significantly impact the major professional sports leagues and the sports betting industry, especially with 15 teams in California and 8 in Texas.

Major Sports Betting States

California and Texas may learn a lot from New York’s example about the potential impact of legalization. After initiating online sports betting in early 2022, New York has the second-largest handle in the industry. By 2025, it is predicted to surpass New Jersey.

Opening up additional markets is a boon for the sports betting companies. While six states approved sports betting in 2023—including a significant national market in Florida—it is probable that only North Carolina will debut this year.

There may not be any brand-new sports betting markets popping up right now, but the already existing ones will keep growing thanks to the natural progression of established players. Arizona legalized sports wagering in April 2021 and made it available to the public in September of the same year. As a result, suppliers of gambling software products made a lot of profits in the state.

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