According to the Arizona Department of Gaming’s June numbers released on Tuesday, the month was underwhelming. The summer slowdown started in May for the industry, and it’s likely to continue as the July figures have yet to come out.
Sportsbooks Operators in Arizona Register a Total of $318.8 Million
There are quite a few options for bettors across the Copper State regarding the number of platforms. However, the MLB is the only major league that is currently in season, and it’s easy to point out that baseball doesn’t attract as much attention compared to the NFL and NBA.
June’s monthly handle in Arizona witnessed a major drop from May’s $461.5 million. The decline was expected as both the NBA and NHL were in the playoffs during the month. In June, betting results favored the bettors, which contributed greatly to the revenue generated.
Arizona’s handle ranked sixth out of the jurisdictions, but the bookmakers’ handle declined 30.9 percent from May’s handle. The national average drop for the whole industry for the month was at 18 percent.
Operators in the Copper State combined to generate $12.1 million. Bookmakers have deducted more than $17 million since the operation began in September 2021. Gross revenue also dropped 78.1 percent from the previous month.
What Caused the Revenue Numbers to Plummet?
Mobile sports betting made up 99 percent of the overall handle for the month as FanDuel was the only platform that registered a handle of $100 million. With $104 million, the platform made up 32.9 percent of the handle.
DraftKings secured second place with a handle of $92.8 million. The famous bookmaker had a tough stretch against the public as the sportsbook operator had a gross revenue loss of $5 million due to a hold of -3.4 percent. Ultimately, the sportsbook operated at a loss of $3.2 million.
BetMGM came in third with a total handle of $59.7 million. FanDuel’s retail sportsbook at the Footprint Center has also become the most thriving location as it took in $2.3 million in wagers.
At Chase Field, Caesars Sportsbook opened its permanent location in late June, and a total of $331,583 was wagered.
During this upcoming NFL season, State Farm Stadium is scheduled to open its doors to the public. For June, the state was able to collect $761,801 in taxes.
Will Arizona Have Better Results in August…
The Arizona Cardinals will open their season at home against the Kansas City Chiefs. Before then, the August sports betting handle should see an increase as the NFL preseason will be factored into the schedule. Other major markets like New Jersey and Pennsylvania’s handles have gone up last year after posting terrible results for July.
Despite DeAndre Hopkins’ absence for the first six games, the Cardinals are expected to make a playoff run. A few retail locations across the state will also be looking to go online as most of the wagers are conducted that way.