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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
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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.