After nearly a year of legalized sports betting in the state, there’s a big disparity in the amount of money waged versus the tax revenue gained.
The odds are certain when it comes to betting on the lottery versus sports in Arizona. That’s according to the most recent report from the state’s department of gaming.
“In the last quarter of 2021, Arizona only brought in about $5 million of total revenue despite having almost $1.5 billion of bets being made,” said Victor Matheson, Holy Cross professor of economics and accounting.
He added a person who bets $10 on the lottery each week nets Arizona about $3 in tax revenue versus the same $10 in sports betting, which only raises about 10 cents.