Arizona – FairOdds Network

January 9, 2025

Arizona sets $791.2 million sports betting handle record in October

Consumers in Arizona spent a record $791.2 million (£644.2 million/€768.2 million) betting on sports in October, while revenue in the Grand Canyon State fell just short of an all-time high.

Handle for October surpassed the existing Arizona record of $759.8 million, set in March this year, by 4.1%. It also beat October 2023 by 22.1% and September 2024 by 8.1%, according to Arizona Department of Gaming data. Online sports betting spend in October amounted to $784.4 million, while retail wagering hit $6.8 million.

Players won $735.6 million across online and retail betting, leaving $53.8 million in adjusted gross receipts. This falls 6.9% short of $56.9 million in the previous year and it also lagged 31.5% behind September’s $77.4 million record.

Almost all adjusted gross receipts – $53.6 million – came from online, with retail generating just $205,230 in comparison. On this, overall hold for Arizona in October was 6.80%

After excluding $30.2 million worth of free bets, the new adjust..

October 16, 2024

Arizona sports betting market up YoY, but down against June

Arizona endured a somewhat mixed month in July as both handle and revenue were higher year-on-year in the Grand Canyon State, but the market shrank month-on-month.
Players wagered $410.1m (£313.7m/€376.6m). This is up against $323.2m July last year but down against $454.1m June this year. Of the July handle, $404.8m was spent betting online and $5.4m at retail sportsbooks.

The Arizona Department of Gaming (ADoG) also reported $41.5m in adjusted gross revenue prior to free bets. After deducting $12.5m in promotional wagers, this left $29.0m in adjusted gross revenue.

Monthly revenue beat July last year by 8.2% but, coincidentally, also fell 8.2% short of June’s total. This amount includes $28.7m in online betting revenue and $283,928 from the retail sector. Sportsbooks paid the state a total of $2.9m in taxes. Digital revenue is taxed at 10% and retail revenue is taxed at 8%.

This meant Arizona had a state-wide hold of 7.07% for the month.

DraftKings retains the lead in Arizona
Brea..

September 10, 2024

How Sporttrade is like… pizza dough

It would be fair to say that Sporttrade, in its current incarnation, isn't exactly what founder Alex Kane envisioned. But it would also be fair to say that he's still growing his business and having a good time doing it.
“I am still excited because I do still have this long-term vision of wanting to create something different,” Kane told iGB. “I love listening to players and learning from them.”

When Sporttrade made its debut in New Jersey in 2022, it became the first company in the US to offer a different experience known as exchange wagering. Bettors can buy and sell bets throughout a game for an experience that more resembles stock trading than traditional sports betting.

The Sporttrade odds format was “implied probability” where, instead of seeing “+300”, players would see “25%”. With implied probability players can, for example, “buy at 25%”, then have the ability to “sell at 60%” if the bet started to look more likely.

Sporttrade went on to add a “limit order”. This..

August 30, 2024

Arizona sportsbooks see 13.5% handle increase over last June; 20% decrease against May

Bettors in Arizona wagered $454m (£345.8m/€410.5m) in June, the latest month of revenue reporting available, according to a Friday (30 August) Arizona Department of Gaming (ADG) press release.
That number beat the same month in 2023 by $60.8m or 13.5%. But it was down 20% from $568.4m in May.

Gross gaming revenue for Arizona sportsbooks before promotional deductions was $46.2m. Operators wrote off $14.6m, meaning adjusted gross revenue was $31.6m, which is taxable. Operators paid the state $3.16m in tax revenue. Digital wagering operators are taxed at 10% and brick-and-mortar sportsbooks are taxed at 8%.

Digital platforms accounted for $449.7m in handle and $31.3 in AGR. The state has three retail sportsbooks that it can tax and they collectively took $4.4m in bets. The rest of Arizona’s brick-and-mortar locations are in Indian Country and bets are not taxed by the state.

There was a $5,210.70 “annual audit adjustment” noted on the report.

DK has highest handle; FD leads in AGR
..

August 2, 2024

Sporttrade, Plannatech awarded Arizona event wagering licences

On Friday (2 August) the Arizona Department of Gaming (ADoG) awarded two tribal-tethered event wagering licences. Sporttrade, currently live in Iowa, New Jersey and Colorado, and UK-based Plannatech are now approved to offer digital betting.
Both companies will be tethered to tribes. Sporttrade will partner with the Quechan Indian tribe of the Fort Yuma Indian reservation and Plannatech will partner with San Carlos Apache Tribal Gaming Enterprise.

The Quechan tribe was formerly partnered with Unibet, which exited the state earlier this year. The San Carlos Apache were partnered with WynnBet, which is unwinding its platform across the country.

Sporttrade offers exchange wagering in New Jersey and has technology that allows an experience similar to playing the stock market. But the company has struggled to convince other regulators to allow this type of betting. It is live in Colorado and Iowa as a traditional sportsbook.

It is not apparent that Arizona allows exchange wagering.
..

July 25, 2024

Arizona reports yearly sports betting revenue and handle growth in May

Sports betting revenue and handle in Arizona increased year-on-year during May as FanDuel remained the state’s leading operator by some distance.
Total spending on sports betting in May hit $568.5m (£441.3m/€523.8m), according to the Arizona Department of Gaming report. This is 25.9% more than in the state in May 2023, but 13.4% behind April’s total this year.

Of all wagers placed in Arizona, $563.2m was bet online and $4.1m with retail sportsbooks. The remaining $1.2m was wagered through limited event wagering operators during May.

Players won a total of $506.0m from sports betting in May, resulting in $61.1m adjusted gross receipts (AGR) prior to promotional deductions. This figure is 25.7% higher than last year and only marginally behind $63.3m in April despite the lower handle.

After accounting for $17.2m in free-bet and promotional deductions, AGR amounted to $43.2m. This amended figure is 27.4% ahead of last year and 0.5% behind April.

May’s $42.7m AGR came from online bet..

July 22, 2024

SuperBook shuts down in eight states

Late Friday (19 July) SuperBook Sports became the latest casualty in the digital sports betting world when it shut down in eight states. The company, which has its flagship retail sportsbook at the Westgate in Las Vegas, remains live online in Nevada.

In an 8.38pm ET tweet, the company announced that it had shuttered its platforms in Arizona, Colorado, Iowa, Maryland, New Jersey, Ohio, Tennessee and Virginia at 8pm ET on Friday. SuperBook is the fourth platform to wind down operations this year.

Prophet Exchange, SaharaBets and Unibet all closed earlier in 2024. Like those three, SuperBook was unable to capture significant market share in any state outside of Nevada.

SuperBook is known for its massive retail location in Nevada and its NFL SuperContests. SuperBook had plans to offer the contests in other states. But it could not bring in players outside of Nevada without violating the Wire Act. However, plans to offer similar contests locally did not materialise.

SuperBook’s clos..

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Tag: Arizona