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Arizona Sports Betting Handle Drops 31% in June

Arizona sports betting had a disappointing showing in June, recording a 31% drop in its handle from May. 

All operators reported $319 million in June wagers, which kept the state in the six-place ranking among US sports betting markets. Despite staying in the same ranking, Arizona’s sports betting handle drop was significant to the national trend of an 18% month-over-month dip. 

After paying our winners and including the federal excise tax, operators saw revenues of $15.4 million in June. This was 72% lower than May’s revenue of over $55 million. It places June as the state’s second-lowest revenue generated, with that record being held by September 2021 – when the state launched sports betting. 

Operators deducted around $9.2 million in promotions and free bets, which left a $7.6 million adjusted revenue for the month. In terms of taxes, Arizona brought in $766,831. This was a major difference from its May record of $4.1 million. 

Arizona Department of Gaming Director Ted Vogt said in the press release that June is a historically slower month for the state. He added that “operators contributed over $750,000 in privilege fees during June, resulting in nearly $17 million in privilege fees since the start of legal operations in September 2021.” 

How Arizona Sports Betting Operators Faired in June 2022

The majority of the handle came from mobile bets, totaling $315.9 million.

FanDuel was the only operator to bring in more than $100 million in online bets with $103.9 million, which meant that it was handling nearly 33% of the state’s market. FanDuel held 7.3%, which brought the operator $7.6 million in revenue.

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DraftKings, its closest competitor in the market, had the second-highest handle of $92.8 million. However, DraftKings reported a $3.2 million loss. 

Caesars was the third operator in the higher grouping of handles. It brought in $33.5 million in wagers. After Caesars, there is a significant drop off to the remaining 14 operators. 

Arizona Sports Betting Retail Operators 

FanDuel was the winner here, too, with its retail handle reaching $2.3 million. Caesars’ retail handle reached $331,583.

Arizona did expand the number of Limited Event Wagering Operators. These brick-and-mortar locations are mostly sports bars. In May, there was only one operator, and in June, that number had jumped to 10. 

These locations handled a combined $177,722 on an 8.5% hold. Turf Paradise led the way with $123,122 wagers in June, its second month of operation. The other nine locations all handled $20,000 or less in bets.