Total spending on sports betting in May hit $568.5m (£441.3m/€523.8m)., according the Arizona Department of Gaming report. This is 25.9% more than in Arizona last May, but 13.4% behind April’s total this year.
Of all wagers placed in Arizona, $563.2m was bet online and $4.1m with retail sportsbooks. The remaining $1.2m was wagered through limited event wagering operators during May.
Players won a total of $506.0m from sports betting in May, resulting in $61.1m adjusted gross receipts (AGR) prior to promotional deductions. This figure is 25.7% higher than last year and only marginally behind $63.3m in April despite the lower handle.
After accounting for $17.2m in free-bet and promotional deductions, AGR amounted to $43.2m. This amended figure is 27.4% ahead of last year and 0.5% behind April.
May’s $42.7m AGR came from online betting $374,866 retail and $82,813 limited event wagering operators.
Turning to taxes, Arizona drew $4.3m from sports betting during the month. Almost all of this was from the online market, which is taxed at 10.0%. Retail tax income, which has an 8.0% rate, generated $29,989 and limited event wagering, also taxed at 8.0%, brought in $6,625.
FanDuel still the one to beat in Arizona
As has been the case for some time, FanDuel continues to lead the way. In total, FanDuel took $193.8m in wagers during May, including $192.7m online and $1.1m in retail bets. This resulted in $21.3m in AGR after promotional deductions.
Long-time rival DraftKings remains second, despite its handle being only slightly lower in May at $190.5m. Incidentally, DraftKings took more in retail bets ($2.2m) but fell behind with online wagers ($188.3m). However, while the difference in total handle was minimal, there was a greater gap between FanDuel in terms of AGR, which totalled $13.6m.
As for the chasing pack – albeit some way behind – BetMGM was the best of the rest. Total handle across online and retail hit $64.0m, with AGR at $4.1m.
Caesars was the only other operator to exceed $1.0m in AGR, reporting $1.8m for May. This came after taking $35.7m in total monthly handle.
Other operators of note include Bet365, which saw AGR (online only) reach $859,451 from a $25.5m handle. ESPN Bet saw $733,994 in online AGR off $18.3m in wagers, while Fanatics saw all revenue lost to free bet deductions following $16.9m in bets.
In terms of limited event wagering operators, TP Racing, operator of Turf Paradise, claimed top spot with $29,281 in AGR from a $538,870 handle.
Original article: https://igamingbusiness.com/sports-betting/arizona-sports-betting-revenue-handle-growth-may/
