On Friday, the Arizona Department of Gaming reported $47.3 million in gross sports betting revenue for June, completing another solid month in 2024 for sportsbook operators.
Revenue was up 66.8% from June 2023 as the 10.4% statewide hold ticked 3.2 percentage points higher. It was only the second time in 34 months of wagering that Arizona sportsbooks posted back-to-back win rates of 10% or better, also accomplishing the feat in August and September of 2022. Operator winnings were down 24.3% from the $62.4 million reported in May.
Handle increased 15.5% to $454.1 million as the Grand Canyon State became the seventh to eclipse $18 billion in the post-PASPA era. Arizona failed to top Nevada in handle for a third consecutive month, falling $27.4 million short.
Wagering was down 20.1% from May, but the $3.78 billion in accepted bets in the first half of 2024 was up 17.3% compared to last year. The state collected nearly $3.2 million in taxes for June, and the $23 million generated thus far is almost $6.4 million ahead of last year's pace.
The known hold on gross revenue across the United States in June — which does not include Tennessee and Nebraska — was 9.45% against the $8.78 billion handle as operators claimed nearly $830 million in gross winnings. When including Tennessee and Nebraska, state tax revenue from sports betting totaled $175.7 million for June. Thirty of the 32 states and jurisdictions that posted handle and revenue figures had at least 8% hold.
The year-to-date hold across the U.S. is 9.54% against $74.87 billion worth of accepted wagers, which has resulted in $7.14 billion in gross revenue. That is currently tracking near one-half of a percentage point higher than the 9.1% attained from $118.8 billion handle in 2023.
FanDuel Continues to Win Big, Spend Big
2024 FULL June #SportsBetting handle by state (1/3):
1 NY $1.48B
2 Ill $~848M
3 NJ $748.4M
4 Ohio $530.6M
5 Mass $509.4M
6 Nev $481.6M
7 Penn $464.5M
8 Ariz $454.1M
9 Virg $415.4M
10 NC $398.3M
11 MD $384.7M#SportsBettingX#GamblingX— Chris Altruda (@AlTruda73) August 31, 2024
FanDuel had a six-month run with $20 million in revenue that ended in June, but the $19.3 million in gross winnings easily led among Arizona's 16 mobile sportsbooks. It crafted a hold just shy of 13% of the $149.1 million handle, and FanDuel's $5.1 million promotional spend accounted for more than 35% of the $14.6 million in free bets and credits offered by operators.
DraftKings led all digital sportsbooks in handle at $153.9 million and had a solid June with $14.8 million in gross revenue — double that of 2023 — thanks to a 9.7% win rate. DraftKings spent $3.9 million on promotional credits, its lightest monthly outlay since awarding $3.1 million in credits and bonuses last August.
BetMGM ($1.8 million) and Fanatics Sportsbooks ($1.4 million) were the only other operators with a seven-figure spend for June. BetMGM grabbed the final podium spot for revenue with nearly $5 million, while Fanatics slotted just behind Caesars in fifth place at $1.8 million.
Caesars was fourth for handle and revenue, posting a 6.6% hold to claim $1.9 million in winnings from $28 million worth of bets. Bet365 claimed the No. 5 spot in handle at $19.1 million, and the England-based sportsbook's $1.8 million revenue ranked sixth.
ESPN BET rounded out the seven mobile sportsbooks with at least $1 million in revenue, claiming $1.1 million from $12.7 million in handle. Its promotional spend of $453,300 was down 45% from May, lifting its year-to-date outlay to $6.2 million.
Another five sportsbooks — BetRivers, Desert Diamond, Hard Rock Bet, Bally Bet, and Betway — had at least $147,000 in revenue, paced by BetRivers reaping $397,700. Locally-based Desert Diamond reported $211,800 in winnings as its gross revenue for 2024 topped $1 million.
In its last full month of operations, SuperBook totaled $44,300 in revenue from $684,800 in wagers, good for a 6.5% hold. The Las Vegas-based outfit shut down mobile operations outside Nevada in late July and had only $122,700 in gross revenue from $5.1 million in handle in 31 months from December 2021 through June.
Golden Nugget posted its fourth consecutive monthly loss as bettors came out $7,600 ahead of $57,000 wagered. It has a year-to-date loss of $22,700 from $1.1 million in handle.
