Arizona became the 11th state in the post-PASPA era to clear $5 billion in total sports wagering handle as the state’s Department of Gaming marked the one-year anniversary of legal betting Thursday by releasing figures for July.
The $290.5 million wagered to start the second half of the year nudged Arizona ahead of Tennessee into the top 10 for all-time handle by state. The $5.07 billion wagered is approximately $8.2 million more than the Volunteer State, but the 11 months needed for Arizona to reach that mark were 10 fewer than Tennessee.
Arizona also became the fastest state to the $5 billion mark post-PASPA, edging neighboring state Nevada by one month. Among newer states to legalize beyond the original trio of Nevada, New Jersey, and Delaware, Arizona was five months faster to the benchmark than Illinois.
Though handle dropped 8.9% compared to June’s $318.8 million, gross revenue in July surged 82.3% higher to just shy of $22 million as the 7.6% win rate was double the 3.8% from the previous month. Adjusted revenue increased more than four-fold to $15 million, a combination of the higher win rate and promotional credits dipping 24.2% compared to June, to $7 million.