The Arizona Department of Gaming reported $62.4 million in gross sports betting revenue for the month of May as operators hammered the public with an 11% hold.
That revenue figure, before any deductions are counted, is the fourth-highest total in 33 months of wagering in the Grand Canyon State. The 11% win rate ranks second overall, trailing only the near-12% hold attained in May 2022.
The $568.5 million in handle was an increase of 25.9% from May 2023, and marked the second consecutive month Arizona posted a higher wagering amount than Nevada. The combination of expansive mobile reach — Arizona’s mobile handle accounted for just over 99% of all wagering — larger population, and Las Vegas not hosting any significant sporting events that would generate notable retail handle all factor into an outcome that will likely repeat itself until the start of the NFL season.
Revenue was up 26.3% from last year. Handle was down 13.4% from April’s $656.3 million, but gross revenue declined only 3.8% as May’s hold was 1.1 percentage points higher.