Arizona sports betting took $770m revenue but below market expectations

Arizona sports betting took $770m revenue but below market expectations

PHOENIX (AP) — Arizona’s general fund collected just over $1.3 million in taxes during the first two months of legalized sports betting, far below the high expectations set by Gov. Doug Ducey and other proponents of the new gambling law.

Fantasy sports betting also was a bust for state coffers, bringing in just $46,000 to the state general fund in September and October.

Credit a lot of free bets on sporting events with erasing what would have been a much bigger take, add in an immature market that just launched fantasy sports betting in late August and full-on sports betting on Sept.

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