“Despite June being a historically slower month for sports betting, Arizona’s figures were strong nationally,” said Ted Vogt, Director of ADG. “Arizona operators contributed over $750 thousand in privilege fees during June, resulting in nearly $17 million in privilege fees since the start of legal operations in September 2021”.
The Arizona tax office charged the bookies a tax of $1.6 million to do business in the state. Here’s how June went for Arizona’s 17 licensed sportsbook companies.
FanDuel Overtakes DraftKings for Tops in Arizona Betting Handle
FanDuel and DraftKings have been going neck and neck for top honors in the state. June saw FanDuel AZ handle $142.2 million in wagers and has taken the top spot with a betting handle of $3.3 billion since their 2021 entrance into the Grand Canyon State betting world.
DraftKings Arizona is a solid No. 2 during June, handling $111.3 million in bets. BetMGM was No. 3 with $55.7 million, followed by Caesars ($39.8 million), and rounding out the top five, Penn Entertainment (Barstool) with $11.2 million in June sports betting handle.
FanDuel Tops in June Revenue
The bottom line for all these online Arizona bookies is how much revenue they are making, and FanDuel generated a state-best $12 million in June proceeds. DraftKings generated $7.1 million in revenue, followed by BetMGM ($4.8 million), Caesars ($1.4 million), and Desert Diamond Mobile reported June earnings of just over $1 million.
FanDuel Crushing the Retail Betting Markets
FanDuel and its NBA partner, the Phoenix Suns, handled $1.3 million in wagers at its Phoenix Suns Footprint Center sportsbook. That resulted in roughly a $200,000 loss for the industry leader.
BetMGM was the only profitable brick-and-mortar sportsbook during June, reporting $31,060.02 worth of revenue.
Promotional Wagers on the Rise
FanDuel led the state in casino credit bonuses and other promotional wagers, passing out $4.2 million in free incentives during June.
BetMGM handed out the second most casino credit bonuses, doling out $3.2 million. DraftKings offered $2.3 million in free incentives, followed by Caesars ($652,966.67), and Desert Diamond holds down the 5th spot with $427,557.06 in casino credits.
Arizona continues to impress. and ranked fifth in the country in June sports betting handle. FanDuel, DraftKings, BetMGM, and Caesars are the only bookies in Arizona to handle over $1 billion in wagers, and there doesn’t seem to be any signs of slowing down for any of these four.
Penn Entertainment forming ESPN Bet could make for an interesting competition with Desert Diamond for the fifth spot in the state.
In terms of revenue, no one comes close to FanDuel and DraftKings. BetMGM, Desert Diamond, and Caesars are managing to remain in the top five in earnings, but the rest of the states’ bookmakers have a long way to go to catch the top five.