Monthly handle in Arizona was higher than $290.5m in July last year. However, player spend on sports betting was 17.8% less than $393.2m in June this year.
Of this total, $320.2m was wagered online, while the remaining $2.4m was spent betting at retail sportsbooks across Arizona.
Consumers won a total of $287.9m from sports betting in July. This left $34.6m in adjusted gross event wagering revenue before free bets, up 38.4% on last year and 24.9% ahead of June.
Revenue from online sports betting hit $34.3m, while retail’s shared amounted to $151,222 for the month of July.
Almost $8.0m worth of free bets issued in Arizona
When discounting $7.7m in free bets and promotional credits – almost entirely from online betting – adjusted gross revenue hit $26.8m. This was up 78.7% from $15.0m in July 2022 and 63.4% higher than $16.4m in June this year.
Online sports betting generated $26.6m in adjusted revenue, while retail’s share amounted to $145,433.
Sports betting tax for July reached $2.7m. Mobile, taxed at a rate of 10%, accounted for almost all tax. Retail, which is taxed at 8%, contributed $11,635.
Original article: https://igamingbusiness.com/finance/arizona-sports-betting-july/
