Last Friday, the Arizona Department of Gaming reported $47.3 million in gross sports betting revenue for June 2024. Compared to their figures from June 2023, revenue was up 66.8% with a hold of 10.4%. For just the second time in 34 months of legal wagering in Arizona, sportsbooks posted back-to-back months with win rates of at least 10% or higher. However, operator winnings were down 24.3% from the $62.4 million they saw in May. Additionally, their betting handle increased 15.5% to $454.1 million. Arizona is only the seventh state to eclipse at least $18 billion in the post-PASPA era. In June, Arizona fell $27.4 million short of beating Nevada for the third straight month.
While wagering was down 20.1% compared to their figures in May, Arizona sportsbooks have collected $3.78 billion in the first half of 2024. That is up 17.3% compared to their figures from the first six months in 2023. Sportsbooks collected $3.2 million in June to bring their year-to-date total to $23 million, $6.4 million ahead of last year’s pace.
What sportsbooks in Arizona were the most profitable in June?
For six consecutive months, FanDuel had $20 million in revenue. That streak came to an end in June 2024 when Arizona sportsbooks collected $19.3 million in gross winnings. While they did not reach $20 million, FanDuel was still comfortably in first place for revenue compared to 16 mobile sportsbooks in the state. FanDuel’s hold in June was just shy of 13% of the $149.1 million handle. The company’s $5.1 million in promotional spending accounted for more than 35% of $14.6 million in free bets and credits. Of all the digital sportsbooks in June, DrafrKiings had the highest handle at $153.9 million. Their $14.8 million gross revenue in June was double what they saw in 2023 thanks to a 9.7% hold. DraftKings spent $3.9 million on promotional credits. It was their lightest month since August 2023. BetMGM ($1.8 million) and Fanatics Sportsbook ($1.4 million) were the only other operators in Arizona to hit seven-figure spend for June.
