Arizona: Sports betting revenue and handle rise in August

Sports betting revenue and handle in Arizona increased year-on-year during August, while the state also saw player spending reach its highest monthly total since May.

Total handle for August hit $496.6 million (£382.8 million/€458.4 million). This is 38.4% ahead of last year and also 21.1% above the amount bet in Arizona in July this year.

Some $473.8 million was spent betting on online, while a further $22.8 million was bet at retail sportsbooks across the state.

Data from the Arizona Department of Gaming (ADoG) also shows adjusted gross revenue for August topped $37.3 million. This beats last year by 17.7% but falls 12.2% short of July.

After deducting $14.9m worth of free bets and promotional credits, adjusted gross revenue (AGR) hit $22.4 million. This surpasses last year’s total by 4.7% but is 22.8% behind July this year.

Online betting accounted for $22.2 million of all AGR after deducting free bets. The remaining $210,108 came from wagering at retail sportsbooks in Arizona.

In terms of hold, based on figures after free bets, this was 4.51%. Before such deductions, state-wide hold for August reached 7.53%.

FanDuel takes top spot from DraftKings

August saw Flutter-owned FanDuel take the lead from long-time rival DraftKings. During the month, it posted $9.8 million in AGR after free bets from $162.0 million in handle for a 6.0% hold.

DraftKings had to settle for second with $8.5 million in revenue off $175.8 million for a hold of 4.84%.

Other stand-out performers included Caesars with $1.2 million in revenue from $28.7 million in handle, leaving a 4.18% hold. BetMGM followed close behind with revenue of $1.1 million off $57.3 million in bets for a 1.92% hold.

Total tax from sports betting during August was $2.2 million. Online betting, taxed at 10%, drew most of this, with retail betting, which has an 8% tax, contributing $16,809.