Arizona sportsbooks take almost $60m in revenue during September

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Sportsbooks in Arizona made almost $60m in revenue during September trading as NFL betting began at the start of the current season. 

Per Arizona Department of Gaming data, sportsbooks handled $610.7m in September when the NFL season returned, capitalizing on the anticipation of a new season just months after the Super Bowl took place in Phoenix

Handle of $610m marked an increase of 13.5% year-over-year, while also marking a 70% increase from August’s figure of $358.9m.

Operators enjoyed a healthy hold rate of 9.8%, allowing revenue to hit $59.7m during September, an 8.1% increase YoY and a mammoth 93% monthly increase, displaying the strong impact of the new football season. 

Sportsbooks were made to pay heavily for this revenue, however. Arizona allows operators to deduct promotional credits and free bets and the ADG revealed operators spent $27.1m on these player benefits, meaning that revenue would have been $32m. 

With the NFL launch a typically important acquisition period, it is unsurprising that operators spent heavily, but they did spend nearly 50% of their revenue on customer bonuses. 

Breaking down performance per operator, DraftKings was the market leader in Arizona in September, handling $218m. Meanwhile, FanDuel took $179.2m in bets and BetMGM made up the top three, handling $89.9m.  

However, FanDuel made more revenue than its long-term rival, taking $22.3m in revenue from operations in September, compared to DraftKings’ $20.4m. 

The number one position in US sports betting has been the cause of disagreement between the two giants as DraftKings claims number one by handle and GGR, but FanDuel claims that its stronger hold rate, therefore larger NGR, gives it the top spot. 

Here is a look at other operators revenue: 

BetMGM: $80.m

Caesars: $51.7m

Desert Diamond: $26m

Barstool: $12.2m

Hard Rock Bet: $6.4m