Arizona’s sports wagering handle continued to dip in May, but the state did accomplish a new record in state taxes during the same month.
According to the Arizona Department of Gaming (ADG), the Grand Canyon State’s sportsbooks achieved a handle of $461.4m during May, a 10% decrease on April’s $512.9m.
However, sportsbooks across the US are going through a lull period due to the limited sports calendar, so a handle drop was expected. The state’s handle should improve once the sports calendar resumes later this summer.
Mobile sportsbooks reported a handle of $456.7m during May (April: $509.5m), while retail sportsbooks earned $4.58m during the month (April: $3.34m).
Gross revenue for the month came in at $55.2m, a 88% improvement on the previous month (April: $29.2m), with online sportsbooks earning most of that revenue share with $54.3m (April: $29.1m).
Promotional spending for Arizona’s sportsbooks came in at $13.8m in May (April: $12.7m), resulting in adjusted revenue for the month of $41.4m (April: $16.5m).
With Arizona’s 8% tax rate on retail sportsbooks and a 10% tax rate on online sportsbooks, May’s wagering saw $4.1m collected by the state for its coffers (April: $1.6m).
The ADG does not break down its wagering reports by sport wagered upon.
ADG Director Ted Vogt highlighted the record privilege fees during the month of $4.1m.
“The newly emerging event wagering industry in Arizona continues to impress, with over $460m wagered and over $4m in privilege fees in the month of May,” commented Vogt.
“Since the start of legal event wagering, we have seen approximately $30m in privilege and licensing fees contributed to the state.”
Per online operators, FanDuel achieved the biggest handle in May of $148.7m with revenue coming in at $23.98m.
DraftKings was next ($141.1m handle, $14.3m revenue), followed by BetMGM ($84.1m handle, $9.99m revenue), Caesars ($47.5m handle, $3.48m revenue), and Penn Sports ($14.6m handle, $880,381 revenue).
Per retail sportsbooks, FanDuel saw $3.64m in wagers, amounting to $770,525 in revenue, followed by Caesars with $940,588 in handle.