Players wagered $410.1m (£313.7m/€376.6m). This is up against $323.2m July last year but down against $454.1m June this year. Of the July handle, $404.8m was spent betting online and $5.4m at retail sportsbooks.
The Arizona Department of Gaming (ADoG) also reported $41.5m in adjusted gross revenue prior to free bets. After deducting $12.5m in promotional wagers, this left $29.0m in adjusted gross revenue.
Monthly revenue beat July last year by 8.2% but, coincidentally, also fell 8.2% short of June’s total. This amount includes $28.7m in online betting revenue and $283,928 from the retail sector. Sportsbooks paid the state a total of $2.9m in taxes. Digital revenue is taxed at 10% and retail revenue is taxed at 8%.
This meant Arizona had a state-wide hold of 7.07% for the month.
DraftKings retains the lead in Arizona
Breaking down the market by operator, DraftKings remains out in front by some distance. In July, it posted $13.4m in total revenue off $147.9m in bets for a 9.06% hold.
FanDuel remains DraftKings’ closest challenger in Arizona. It reported revenue of $9.5m off of a $127.6m handle, leaving a 7.45% hold.
Other stand-out performers in the state include BetMGM. For July, it posted $2.2m worth of revenue from $47.9m in bets for a 4.59% hold.
Revenue at Caesars hit $1.5m off a $26.8m handle, resulting in a 5.60% hold. Bet365 was the only other operator to post revenue in excess of $1.0m, with its monthly total at $1.1m. This came from $20.1m in wagers, meaning 5.47% hold.
The latest monthly report comes after the ADoG this week also published details of the tribal market in Q1. Gaming tribes contributed $43.9m to the state’s benefits fund, up 3.6% from last year.
Original article: https://igamingbusiness.com/sports-betting/arizona-sports-betting-july-2/
