The July figures were the second-lowest sports betting handle since sports betting became legal in 2021. The July numbers improved over June’s all-time low of $318.7 million but paled compared to the $451.7 million May handle.
Caesars Sportsbook Reaches $1 Million in Betting Handle
Caesars Sportsbook joined FanDuel, DraftKings, and BetMGM as the only Arizona sportsbook companies to handle $1 Billion in wagers.
Caesars handled $42.5 million in bets during July, good for 4th amongst the 16 Arizona licensed mobile sportsbooks. This generated $1.9 million in revenue, of which Caesars paid the state $194,322.09 in taxes.
FanDuel Leads Mobile Operators During July
FanDuel took the top mobile honors for July, accepting $113.6 million in Arizonan wagers. That gives the NYC-based bookie $3.5 billion in handle since 2021. FanDuel paid out the most winnings of the 17 mobile operators and earned $2.7 million in July revenue, and the company paid the most taxes during July.
Rounding out the top five in the state were DraftKings ($102.3 million), BetMGM ($32.6 million), Caesars and Barstool Sportsbook ($8.9 million).
Each of the 17 operators reported earning a profit for July; however, SuperBook Sportsbook was the only mobile operator not to be charged a tax for July.
Promotional and Free Bets During July
FanDuel took the top spot in free bets and other bonuses, handing out $2.7 million on free bonuses and free bets during July. That was well below the $4.7 million spent during June.
Rounding out the top five in promotional spending are DraftKings ($2.0 million), BetMGM ($1.7 million), and Caesars Sportsbook finished fifth, passing out $523,235.20 in promotional free bets during the seventh month of the year.
Arizona Tax Office Big Winners
The Arizona tax coffers were once again the big winners, raking in $2.7 million in additional tax revenue from the 17 mobile and three retail brick-and-mortar retail shops. Since 2021, the state has collected nearly $50 million in tax revenue from its legalization of sports betting.
What Does This Mean for Arizona Sports Bettors
It’s become increasingly clear that of the 17 licensed Arizona sports betting companies, FanDuel, DraftKings, BetMGM, and Caesars are the pacesetters while the other dozen or so are simply trying to stay in business.
Companies earning less than $100,000 in revenue per month, like Churchill Downs/Twin Spires, Betway, Golden Nugget, Rush Street, Sahara Bets, SuperBook, Seminole Hard Rock, and Unibet are going to close if they don’t begin earning money soon.