Arizona sees rise in July sports betting revenue despite lower handle
Grand Canyon State generates $34.5m in AGR on $323.2m in total wagering volume
July is typically one of the slowest months on the sporting calendar and that was evident in new data released by the Arizona Department of Gaming, which reported $323.2m in total sports betting handle for the month, the lowest figure of 2023 and a 17.8% decrease from June.
July revenue, however, checked in at $34.5m, representing a 24.8% increase from June’s $27.7m in adjusted gross revenue (AGR) – which doesn’t include promotions and deductions.
The uptick can be attributed to a rough month for bettors, as sportsbooks held a robust 10.7% of all wagers. Bettors had far more success in June, when the hold rate was slightly over 7%.
Both handle (11.3%) and revenue (15.4%) saw sizable year-over-year (YoY) increases in July, with the state collecting just under $2.7m in taxes.
Arizona remains a mobile-dominant market, as 99% of total handle came from online wagers for the month.
In terms of operators, FanDuel led the way with $115.5m in handle and $13.7m in revenue.
DraftKings wasn’t far behind, totaling $102.4m in handle and $10.2m in AGR, continuing what’s become a coast-to-coast trend of closing the gap – and in some cases overtaking – its primary competitor for supremacy in the US market.
BetMGM rounded out the top three after handling $43.6m in wagers while generating $6.3m in revenue, with Caesars ($32.8m handle, $2.6m revenue) ranking fourth overall.
Local operator Desert Diamond continues to hold a solid piece of the market, with its $7m in monthly handle and just over $586,000 in AGR trailing only the big four and Barstool Sportsbook while outpacing the likes of Rush Street Interactive, WynnBET and Hard Rock Digital.
There are a total of 17 online sportsbooks currently operational in Arizona.