Sports betting totals were a bit underwhelming for operators in the state of Arizona, with the betting handle and revenues taking a hit. Sportsbooks saw $319 million in bets for June, a significant drop compared to May. Operators dipped by 31%, a much higher percentage than the national trend of 18% month to month.
Let’s take a look at the figures released by the Arizona Department of Gaming to get a bigger picture of what the state is dealing with when it comes to the sports betting industry.
Revenue Breakdown
In total, sportsbooks in Arizona were able to generate $12.6 million in revenues for June. This was a 4% hold. The amount was the lowest the state has seen since it launched sports betting in September last year. The state would collect just over $760,000 in taxes from that amount.
Most of the handle came from online betting, which is no surprise. Around $316 million of the total bets were placed online. Sports fans love the convenience of mobile betting and continue to play wagers via smartphones instead of desktop computers.
FanDuel was the top operator regarding online bets, bringing in close to $104 million. This was over 30% of the overall market share. DraftKings came in at a close second with just over $92 million in bets. FanDuel came out on top, though, with a $7.6 million gain, while DraftKings reported over $3 million in losses.
The two sportsbooks are at the top of the pack, with the third place going to BetMGM. The brand generated over $59 million in bets but remained far behind its top competitors. The company earned a solid $5.4 million in revenues, representing a 9% hold.
Five additional Arizona operators saw the month end with negative adjusted revenues for June when promotional credits were included. Unibet, Fubo, Bally Bet, SuperBook, and Desert Diamonds made this list. Golden Nugget posted a gross revenue loss, which was small at just over $11,000.
Limited Event Wagering Operators
In June, eight new limited event wagering license holders entered the market. So far, the new players in the game have seen ups and downs. The best new provider was Charley’s Sports, earning just over $5,700 from a little over $13,200 in bets. The company received a 43% hold.
AZ Downs was the only other license holder able to generate four figures in revenues with a handle of over $10,000 and revenues of $2,600. While these two new providers did well, others were not so lucky.
Turf Paradise is one of the older but newer operators that saw earnings of around $12,000. Harold’s saw a difficult start, with bettors earning over $6,900 from just over $20,000 in wagers.
Staying in the Top 10
With the June revenues now public for Arizona, we see that the state is still in the top ten regarding sports betting services. New York has the top spot with over $1 billion in bets, while New Jersey is a far second with $633 million.
Illinois takes the third spot with $628 million, followed by Nevada with $490 million. Pennsylvania sits in fifth with $393.5 million, followed by Arizona in sixth with $318.77 million. Colorado is close behind in seventh with $313 million, followed by Virginia in eighth with $295 million. It will be interesting to see if Arizona totals will pick back up in the coming months, especially as the newest football season is upon us. Once the September and October totals are provided, Arizona can reach higher spots in the handle list as more players post bets on NFL and college football gam
