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KNAU and Arizona News

Arizona sports gamblers set $692 million betting record in March

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Arizonans boosted their sports betting by more than 40% in March from the prior month.

The NCAA's March Madness tournament was a big draw, with gamblers putting down more than $690 million in bets while winning back all but $39 million of that money.

Monday’s report from the Arizona Department of Gaming on the seventh month of legalized sports betting showed sports books made $37.2 million in gross profits after federal tax. But that was before they gave away $18.6 million in free bets designed to get state residents in the habit of gambling.

That left $18.7 million in adjusted profits and led to state taxes of $1.86 million.