Arizona’s September monthly numbers are finally made public after the Arizona Department of Gaming reported a record in gross revenue. This comes after the summer slowdown had a major effect on not only Arizona’s sports betting market but also the rest of the industry.
Arizona’s Impact on the Market Continues
While the Copper State does not report its results as regularly as other jurisdictions, it remains an important market. The gross numbers that were generated in the month of September barely surpassed the previous record that was set in May. Only $15,551 separated the two months as the bookmakers brought in $55.2 million.
The hold rate was the main attribute of this feat, as the house was able to torch the public. In the state, the average win rate was 10.3 percent, which is more than three points higher than the industry average of 7.2 percent.
Sportsbook operators in the state combined to register a handle of $538 million, which was the third highest since the operation began 13 months ago, based on the report. So far, in the 2022 cycle, both retail and mobile sportsbooks accepted over $4 billion in wagers.
September was a great month for the bookmakers as 24 of the 27 states that have released their reports recorded a win rate of 10 percent or higher. Also, Arizona allows sportsbook operators to use deductions.
Promotional Credits and Deductions Played a Big Role in the Copper State
The start of the NFL season was what both the public and the house were looking forward to after a tough July and August. Without a doubt, the platforms used this opportunity to be aggressive with their promotional offers.
The total amount accumulated to $24.5 million, which was the second-highest total since October 2021’s $24.5 million. Most of these marketing pushes came from three major sportsbooks, which include FanDuel, DraftKings, and BetMGM. The three competitors combined to push out more than 20 million in credits.
Due to the promotional credits, the taxable amount came out to be $30.7 million. After everything was settled, the state had the opportunity to collect $3.1 million in tax receipts.
The 10.3 percent win rate was one of the lowest in the industry for the month, as it was the fourth-lowest out of the 27 jurisdictions. The national hold in September was 11.7 percent as the house routed the public.
Which Sportsbooks Had the Most Success in September?
DraftKings brought in $144.8 million for the month, which was the highest handle. FanDuel had the highest gross revenue total, situated at $19.3 million, due to a 13.3 percent win rate.
During the year, BetMGM spent more than $45.2 million on promotional activity in Arizona, an increase of more than $5.7 million from last year. Caesars notched $46.1 million thanks to a hold rate of $46.1 million. In Arizona, Barstool’s 10.5 percent win rate ranks second only to last November’s 12 percent.