Despite the record-betting handle, Arizona bookies saw a decline in February revenue. The 27 licensed bookmakers reported $33.9 million in revenue, a 25% decline from the bookies, but Grand Canyon State tax officials secured $1.6 million in tax revenue.
Some of the rise in revenue can be attributed to Super Bowl LVII being the first Super Bowl played in a state with legalized gambling.
BetMGM saw $1.2 million in February wagers at its State Farm Stadium locations and is the official sportsbook provider for the Arizona Cardinals.
FanDuel Crushes its Online Competition
FanDuel dominated the Arizona online sports betting space, taking in $218.9 million in mobile wagers, earning the industry giant $15.1 million in February revenue, but they also offered $6.5 million in promotional wagers and bonuses.
DraftKings ended the month with a second-best $161.5 million in betting handle, good enough for $15.1 million in February earnings. The Boston, Massachusetts-based operator gave away $11.2 million in promotions during February.
BetMGM finished 3rd in the state with $80.7 million in handle and netted $5 million in revenue while offering $5 million in promotions. Their retail shop added an additional $129,377.58 in adjusted gross wagering receipts for February.
Caesars continues its strong presence in the Grand Canyon State, accepting $53 million in online wagers with $1 million in promotional wagers offered. That generated $1 million in mobile revenue and $32 thousand in retail revenue.
Desert Diamond rounds out the top five mobile operators, accepting $43.6 million in online wagers while offering $192,008.62 in promotional bets. That allowed Desert Diamond to report $192,008.62 in February taxable revenue and rounded out the top five Arizona bookmakers.
Which Sportsbooks Just Missed the Top Five?
Our top five are tough to beat, but these five Arizona sportsbooks could find their way into the top five at some point this year.
|
Operator |
February Handle |
February Revenue |
|---|---|---|
|
Barstool Sports |
$22.6 million |
$232,577.93 |
|
Rush Street Interactive |
$5.6 million |
$153,587.77 |
|
WynnBet |
$5.1 million |
$57,412.28 |
|
Betfred |
$4.5 million |
$9,514.57 |
|
Seminole Hard Rock |
$4.3 million |
$213,005.28 |
FanDuel Tops in Retail Handle and Revenue
FanDuel partners with the Phoenix Suns of the NBA and has a retail shop located at Footprint Center.
The retail shop boasted $1.8 million in accepted wagers for a revenue of $149,609.22. That led Grand Canyon State sportsbook operators followed closely by BetMGM ($1.2 million), and Caesars rounded out the top three Arizona retail sportsbooks.
