Arizona Sports Betting Handle Reaches $323.2 Million in July

Sports betting activity in Arizona experienced its fourth consecutive monthly decline in July, with a total handle of $323.2 million. However, this figure still represented an 11.3% year-on-year increase.

While the July handle was higher than the $290.5 million recorded in the same month the previous year, it marked a 17.8% decrease from June's handle of $393.2 million.

The majority of wagers, $320.2 million, were placed online, while the remaining $2.4 million came from bets at retail sportsbooks across Arizona.

Players received a total of $287.9 million in winnings from sports betting activities in July. This resulted in adjusted gross event wagering revenue, before accounting for free bets, of $34.6 million. This figure marked a 38.4% increase compared to the previous year and a 24.9% rise from June.

Online sports betting was responsible for $34.3 million in revenue, with retail contributing $151,222 for the month.

The presence of $7.7 million in free bets and promotional credits, primarily from online betting, resulted in adjusted gross revenue of $26.8 million when these amounts were excluded. This figure marked a significant 78.7% increase compared to July 2022 and a 63.4% rise from June 2023.

Online sports betting accounted for $26.6 million in adjusted revenue, while retail's contribution was $145,433.

Sports betting tax revenue for July reached $2.7 million, with the majority coming from mobile sports betting, which is taxed at a rate of 10%. Retail sports betting, taxed at a rate of 8%, contributed $11,635.

Image License: Unsplash.com, Free to use, Author: Florian Schneider