Press Releases
PlayAZ.com: Arizona sportsbooks to eventually attract more than $3 billion in bets annually
Arizona will grow into a particularly lucrative market for its fledgling sports betting industry, capable of generating more than $3 billion in annual wagers and $200 million in annual gross gaming revenue, according to estimates by PlayAZ.com, which analyzes and researches the state’s regulated online gaming and sports betting market.
“Arizona is particularly exciting development for legal sports betting in the U.S., with a collection of attributes that will likely help the market mature quickly,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayAZ.com. “In fact, few other of the recently launched U.S. markets have quite as many positive characteristics. Because of this, the future is quite bright in Arizona.”
When Gov. Doug Ducey signed legislation to legalize sports betting in Arizona last week, the Grand Canyon State joined 26 other U.S. states and Washington D.C., that have regulated online sports betting in some form. Twenty-two of those jurisdictions have launched.
According to PlayAZ projections on an Arizona population of 7.3 million, Arizona sportsbooks could take in as much $3.3 billion in wagers annually at maturity, which could come as soon as the market’s third year. That would produce as much as $225 million in gross gaming revenue annually, assuming a 7% “hold,” which is the percentage sportsbooks keep after paying out winning bets.
With a hypothetical 8% tax rate, the state projects $12.3 million in annual tax revenue. But the final tax rate is yet to be determined, and with promotional credits that will reduce the tax liability for operators, an accurate projection is impossible.
Indiana, which launched sports betting in 2019, may be Arizona’s closest comparison among current markets. With some 500,000 fewer residents than Arizona, the Hoosier State produced $1.8 billion in bets and $138.4 million in gross operator revenue in 2020, despite major U.S. sports being shut down for more than three months in 2020. Through the first three months of 2021, Indiana sportsbooks have taken in $938.9 million in bets, including $316.7 million in March alone. The first quarter has produced $72.8 million in gross gaming revenues for Indiana sportsbooks, generating $6.9 million in state taxes.
“There is no question that Arizona will be a fruitful market, but there are still a lot of moving parts that will need to be sorted before launch,” said Dustin Gouker, lead analyst at PlayUSA.com. “Based on what is known now, though, the basic framework will be appealing for sportsbook operators.”
Arizona has a unique collection of positive attributes that should help make it flourish. For one, Arizona has a vibrant sporting landscape that includes a professional team in all four major North American sports leagues, four NCAA Division I college athletic programs, NASCAR races, and multiple PGA Tour events. To capitalize on that landscape, Arizona’s bill has authorized stadiums and arenas over 10,000 seats, plus the Phoenix Raceway and TPC Scottsdale as licensees.
Also, Arizona is an appealing sports tourism market with fans regularly traveling from all over for special events such as college bowl games, the Super Bowl, and the NCAA Tournament, in addition to regular season games and baseball’s spring training. Plus, Arizona has the potential to appeal to some residents of Southern California, who currently count Nevada as their nearest legal sports betting option.
“One of the smartest things that Arizona did was to create a relatively open market, like Indiana, which will spur competition and raise the market’s ceiling,” Ramsey said. “We don’t know the entire framework yet in Arizona. But ultimately a truly competitive market benefits consumers while making the industry a reliable revenue producer for the state for years to come.”
For more information and analysis on regulated sports betting in Arizona, visit PlayAZ.com/news.
Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.
With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.
Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.
Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users. Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”
Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.
Latest News
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
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