Arizona Sees Mixed Results in Sports Betting for July
In July, Arizona’s sports betting landscape generated a noteworthy $463.7 million in gross event wagering receipts. This figure marks a 13.1% increase compared to the same month last year, highlighting the state’s ever-growing interest in sports wagering, even as player spending dipped to its lowest point in twelve months.
The gross receipts for July encompassed both online and retail betting, which reported spending of $462.5 million and $1.2 million, respectively. Despite this influx, the total fell 14.6% short of June’s impressive numbers, as noted by the Arizona Department of Gaming.
Players received a substantial $409.2 million in payouts throughout the month, translating to adjusted gross receipts of $53.4 million. When accounting for $12.7 million in promotional and free bets, the adjusted gross receipts settled at $40.7 million. This figure indicates a robust 40.3% increase from last year but reflects a 19.4% decrease compared to June’s totals. Specifically, online betting accounted for the lion’s share, contributing $40.6 million, while retail sportsbooks brought in a modest $104,581.
The monthly hold for Arizona stood at 8.8%, indicating a steady performance despite fluctuations in player spending.
FanDuel Maintains Dominance in Arizona Market
When it comes to operators, FanDuel continued to solidify its leading position. Reporting $13.9 million in revenue from $155.4 million in bets, the platform achieved a hold of 8.94%.
Trailing closely behind was DraftKings, which garnered $13.1 million in revenue after handling $126.1 million, leading to a slightly higher hold of 10.39%. BetMGM ranked third, recording $5.2 million off a $57.8 million handle with a 9% hold.
Fanatics followed in fourth with $3.2 million in revenue and an 8.86% hold. Rounding out the top five was Bet365, which reported $2.1 million from a $32.2 million handle, achieving a hold of 6.52%.
From a tax perspective, operators contributed a total of $4.1 million, primarily from mobile betting, taxed at 10%. Retail wagering added just over $8,000 to this amount, subject to an 8% tax.
This blend of insightful numbers and operator performances paints a complex picture of Arizona’s ever-evolving sports betting scene in July, reflecting both growth and areas for improvement.