Arizona Sports Betting Updates June 2022 Reports

Arizona Sports Betting Updates June 2022 Reports

It’s been a little while since we’ve had any major news in the Arizona sports betting scene, but that all changed this week with the release of the June 2022 reports from the Arizona Department of Gaming.

Arizona Sports Betting June 2022

The Arizona Department of Gaming has released its June 2022 reports, providing the latest information on all event wagering operations in the state. According to the reports, mobile wagering is still dictating the market as it accounts for $315.95 million out of the $318.77 million in Arizona sports betting revenue.

While Arizona is still one of the top sports betting markets, the handle shows a continuous decline in the previous months. After having a record-breaking $691 million handle last March, it has been a completely different story for Arizonians as it dropped since then.

The handle declined by more than 30% compared to the previous month and becomes the second lowest handle since Arizona launched sports betting last September 2021.

Moreover, Arizona sportsbooks retained around $12.1 million which gives them a 3.8% hold rate which is much lower than the 12% hold rate during May.

The state of Arizona has announced that it will be levying an 8% tax rate on retail sports betting receipts and a 10% levy on mobile wagering revenue.

Top Sportsbooks in Arizona

FanDuel remains to be the top retail and online sportsbook with a total handle of $106 million followed by DraftKings with a $92.8 million online wagering handle. BetMGM handled $59.7 million in online wagers while Caesars ‘ retail and online operations account for a total of 33.6 million.

These make the top four sportsbooks account for more than 90% of the total sports betting handled in the Grand Canyon State. Other notable AZ sportsbooks are Barstool Sports with 9.3 million and WynnBet with $6.8 million.

Caesars and FanDuel remain to be the only sportsbooks to offer regular retail sports wagering and handled a total of $2.64 million. FanDuel accounts for the majority with $2.3 million. Limited event wagering operators handled $177K which is translated to $22K revenue. Turf Paradise leads with a $123K handle.

Author: Aaron Patterson