Arizona Reports $568.5 Million Wagered on Sports in May

Bettors in Arizona wagered approximately $568.5 million on sports in May 2024, according to a report by the Arizona Department of Gaming.

Stable Wagers and GGR Growths

In May, licensed sports betting operators in the state registered a handle of $568.5 million, which marked a 25.9% increase compared to May 2023. However, wagers were significantly lower than those reported last month. Arizona’s operators saw a 13.4% decrease in handle from $656.3 million in April to $568.5 million in May.

Arizona’s sports betting market has also generated a gross gaming revenue (GGR) of $60.6 million, which is 26% below the GGR reported for May 2023.

After accounting for nearly $17.2 million in promotions, free bet credits, and other deductions, the adjusted gross revenue (AGR) for May 2024 stood at $42.7 million – a 28,4% surge from last year.

As Arizona’s 10% tax on mobile betting and 8% on retail, are one of the lowest in the U.S., the state collected around $4.3 million in privilege fees for the month.

FanDuel Dominance

Online sports betting in Arizona has once again been dominated by two major players: FanDuel and DraftKings. In May, FanDuel, a brand under Flutter Entertainment, took in bets amounting to $192.7 million. DraftKings followed closely with a handle of $188.3 million.

BetMGM secured the third spot with a handle of $63.6 million, leaving Caesars and Bet365 in fourth and fifth places with $35.3 million and $25.5 million in bets, respectively.

The competition for the sixth position is heating up between relatively new entrants to the U.S. market: ESPN Bet and Fanatics. The operator owned by Penn Entertainment accepted bets totaling $18.3 million, while the brand owned by the sports apparel giant reported a handle of $16.7 million.

Arizona market grows constantly but also heads towards greater consolidation, as Super Group’s Betway and SaharaBets recently decided to exit the market.