• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Arizona Sportsbooks Have Big May, Top $55 Million In Revenue

First big month for the house nationwide in 2022 as 9.1% hold is sixth highest in PASPA era

Chris Altruda by Chris Altruda
July 25, 2022
in Industry
Arizona May 2022 revenue report

Shutterstock

Share on FacebookShare on Twitter

Sports wagering operators in Arizona had their best month since launch in May, claiming more than $55 million in gross revenue according to figures released by the Arizona Department of Gaming.

The revenue figure topped the previous standard of $50.2 million established in November. Operators also combined to set a new high for hold, with the big three of FanDuel, BetMGM, and DraftKings routing the public to help shape a statewide win rate just shy of 12%. It blew past the 10.9% set in September during the first month of wagering.

While gross revenue spiked 88.6% higher compared to the $29.2 million claimed in April, handle dipped 10% to $461.5 million. Excluding the initial month of September, May’s handle in the Grand Canyon State was the lowest of any month to date.

Operators offered $13.8 million in promotional credits in May, leaving $41.4 million in adjusted revenue eligible for taxation. The state’s share came to more than $4.1 million, the most in taxes for any month of wagering and just the second time in nine months they cleared $2 million. Arizona has generated nearly $10.3 million in taxes through the first five months of the year and $16.2 million since accepting its first wagers.

Arizona’s report also completed state-by-state reporting for the month of May, when nearly $6.7 billion was wagered spanning the 26 states and jurisdictions where commercial sports wagering was legal and operable. That was 10.8% lower than April’s $7.5 billion, though a seasonal downturn is expected with the slower springtime sports schedule. It was 79.6% higher than the $3.7 billion handle from May 2021, when 20 states and jurisdictions were taking bets.

FanDuel leads operator rout, but Caesars lags

FINAL May 2022 Top 10 #SportsBetting handle by state:

1 New York $1.26B
2 New Jersey $766.4M
3 Illinois $764.6M
4Nevada $561.3M
5 Pennsylvania $493.4M
6 ARIZONA $461.5M <–NEW
7 Colorado $360.3M
8 Michigan $356.1M
9 Virginia $351.5M
10 Indiana $308.4M#GamblingTwitter

— Chris Altruda (@AlTruda73) July 22, 2022

FanDuel had its best month of mobile wagering since launching in Arizona, as its gross revenue totaled nearly $24 million thanks to an eye-popping 16.1% hold on $148.7 million handle. It was the second consecutive month its win rate cracked double digits, and FanDuel also became the first mobile operator to surpass $100 million in the state. FanDuel’s 13.1% hold on adjusted revenue was the highest among any operator in a month with at least $20 million handle.

DraftKings and BetMGM, which have rounded out the top three in the state for handle every month since launch, joined FanDuel in having holds above 10%. It was the first time DraftKings — posting a 10.1% mark — did so since the initial launch in September, while BetMGM’s 11.9% win rate was its first in double digits since November and third overall.

The trio of operators also represented the bulk of the promotional credits claimed, combining to lavish $11.7 million worth of wagering goodies for bettors. BetMGM’s spend continued to outpace the others, with May’s $5.1 million raising its 2022 outlay to nearly $33.5 million. Its $13.9 million in adjusted revenue represents just 29.3% of the $47.4 million it has generated in the first five months of the year.

Caesars Sportsbook had a solid 7.3% win rate to claim close to $3.5 million in winnings from $47.5 million handle on the mobile side, but its brick-and-mortar venue was pummeled by the public. It paid out nearly $89,000 more than the $940,588 in wagers accepted. It was Caesars’ first monthly loss on the retail side, with May’s losses wiping out more than 50% of the revenue it claimed from January through April.

Barstool surpassed $10 million in all-time gross revenue after winning more than $880,000 from $14.6 million wagered, while WynnBET cleared $50 million in handle for the year after accepting $8.9 million worth of wagers. Among the smaller mobile operators, SuperBook had a jump in handle from $1.9 million in April to over $2.4 million in May, but bettors upped their game and held the win rate at 5.5%, which meant a small dip in month-over-month revenue.

The national sports betting house gets in order

Hey all… still on vacation, hence the diet version #SportsBetting numbers, but did want to point out the 9.1068% national GGR win rate for May was the 6th-highest of the 48 months in the post-PASPA era.

Carry on with your Fri-yay!#GamblingTwitter

— Chris Altruda (@AlTruda73) July 22, 2022

After a slow start in terms of wins and losses for sportsbooks — the current 6.7% nationwide win rate for 2022 is below the industry standard of 7% and dragged down in large part by handle heavyweights New Jersey and Nevada having year-to-date holds of 5.3% and 4.4%, respectively — operators finally picked up the pace in May. Twelve states had win rates by operators above 10% in May compared to the 16 combined occasions nationwide in the first four months of 2022.

Overall, it was the seventh time in 48 months the national hold on gross revenue eclipsed 9%, and the fourth time in the last 12 months. The adjusted revenue win rate of 8.1% for May ranks ninth since PASPA repeal and was more than two percentage points higher than April.

The $608.5 million in gross revenue was the fourth-highest total recorded in the post-PASPA era, edging out the $603 million in March for second-best in 2022. But with lesser spend in promotional credits nationwide in May, the $538.9 million in adjusted revenue was a high-water mark for the year and trailed only the $614.3 million claimed last November all time.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at [email protected]

Related Posts

whats on tap
Industry

What’s On Tap: Elite Eight, WBC Finals, And Texas Sports Betting Hearing

March 20, 2023
Brandon Sumrail/Getty Images
Industry

No Chalk In March: Sports Handle’s Staff Picks For the 2023 NCAA Tournament

March 16, 2023
Load More

Top Stories

taylor mathis

Taylor Mathis Got Sacrificed At The Altar Of Responsible Gambling

March 20, 2023
fanduel baseball wall

Premade Same Game Parlays Are Sucker Bets

March 13, 2023
maginfier-over-small-print

Read The Fine Print: A Proposed Federal Rule Could Change Everything For Indian Gaming

March 6, 2023
roman reigns wwe

Colorado Denies Report Stating That It’s Considering WWE Wagering

March 8, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
March 22, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...