Change is coming to the Grand Canyon State, operators are leaving while the government expects more to fill their place.
Arizona’s Department of Gaming reported that the state took in $568.5 million in wagers for May, a 13% decrease from April. But just because you see fewer bets, it doesn’t mean the sportsbooks suffered. Before deducting their $17.1 million in free bets, the operators announced $61 million in adjusted revenue, which is a 10.7% hold, 1% higher than April.
That means the tax bill for Arizona stayed the same at $4.3 million.
Operators see little change in May
Arizona announced the loss of two sportsbooks in July, SaharaBets and Superbook Sports, but not surprisingly, these operators ranked towards the bottom of a very competitive market.
Below are the Arizona sports betting operators with more than $5 million in combined handle, Sahara and Superbook combined for less than $2 million.
| Operator | May Handle | Revenue |
|---|---|---|
| FanDuel | $192.7 million | $21.3 million |
| DraftKings | $188.3 million | $13.5 million |
| BetMGM | $63.5 million | $4.1 million |
| Caesars | $35.2 million | $1.8 million |
| bet365 | $25.5 million | $859,000 |
| ESPN BET | $18.2 million | $734,000 |
| Fanatics | $16.7 million | $0 |
| BetRivers | $6.1 million | $287,000 |
Free bets dip overall, rise for smaller books
As we get closer to the peak of the summer season, sportsbooks are offering fewer bonuses. Football season will change that trend, but that is months away.
While free bets fell from $19.9 million to $17.1 million month over month, some operators chose an opposite path. All of those companies are at the bottom of the pack and hope to change things in the months ahead.
Bally Bet, Betfred, Betway, and Superbook claimed more free bet deductions compared to April. The combined handle for all these books is roughly $6.1 million, the same amount BetRivers accepted.
