The Arizona Department of Gaming (ADG) has released data revealing that the sports betting handle in Arizona reached $319 million in June, positioning the state as the 6th largest in terms of handle size nationwide. Despite a 31% decrease from May’s figure of $461.4 million, Arizona’s performance was considered strong compared to historical trends. This article provides an overview of the key insights from the report and highlights the significant players in the Arizona sports betting market.
Decreased Handle and Shift to Online Betting:
In June, the sports betting handle in Arizona experienced a significant decrease, falling to $319 million from May’s figure of $461.4 million. It is important to note that June historically tends to be a slower month for sports betting. However, despite the decrease, Arizona’s figures remained robust on a national level. Notably, nearly 99% of bets were placed online, with mobile sportsbooks accounting for $316 million of the handle, while retail sportsbooks contributed $2.6 million.
Market Leaders and their Performance:
FanDuel Sportsbook emerged as the market leader, capturing 32.9% of the market share with a handle of approximately $104 million. The company reported revenue of $7.6 million, demonstrating its strong performance in Arizona. DraftKings Sportsbook followed closely behind, with $92.8 million in wagers. However, it reported a loss of $3.2 million. BetMGM completed the top three, amassing $59.7 million in wagers and $5.4 million in revenue. These market leaders have played a crucial role in shaping the Arizona sports betting landscape.
Privilege Fees and Tax Contributions:
During June, Arizona operators contributed over $750,000 in privilege fees, resulting in a total of nearly $17 million since the inception of legal sports betting operations in September 2021. This revenue stream has provided substantial benefits to the state. Additionally, the state collected $761,801 in taxes in June, further highlighting the positive impact of the sports betting industry on Arizona’s economy.
Caesars Sportsbook and Partnership with Arizona Diamondbacks:
Caesars Sportsbook recently opened its doors at Chase Field, the home stadium of the Arizona Diamondbacks, in downtown Phoenix. This development was the outcome of a partnership between the Arizona Diamondbacks and Caesars Entertainment, with plans to create a state-of-the-art sportsbook, sports bar, and broadcast studio. The collaboration not only grants Caesars Entertainment exclusive sponsorship in sports betting and daily fantasy sports for the Diamondbacks but also provides them with mobile sports betting market access.
Despite a decrease in the sports betting handle compared to the previous month, Arizona’s performance in June remained strong, outperforming historical trends. Online betting dominated the market, with FanDuel Sportsbook, DraftKings Sportsbook, and BetMGM emerging as the key players. Privilege fees and tax contributions from the sports betting industry have significantly contributed to the state’s revenue. The opening of the Caesars Sportsbook at Chase Field marks a milestone in the partnership between Caesars Entertainment and the Arizona Diamondbacks, enhancing the sports betting experience for fans. As the Arizona sports betting market continues to evolve, it is anticipated that the industry will play a vital role in the state’s economy and entertainment landscape.