The Arizona Department of Gaming reported a sports wagering handle of $393.2 million for June, a 23.3% year-over-year increase that helped it become the ninth state to surpass $11 billion in the post-PASPA era.
The Grand Canyon State narrowly missed a 10th consecutive month with $400 million worth of accepted wagers, falling short for the first time since last August. Despite missing the benchmark, Arizona did finish June ranked fifth nationally for handle — the first time it cracked the Top 5 for a month since launch in September 2021.
Sportsbook operators reported $28.3 million in gross revenue before any deductions and promotional credits were counted, resulting in a pedestrian hold of 7.2%. Promotional credits were a year-low $11.4 million, and the half-year total of $90.9 million is down 2% compared to the first six months of 2022. The state was eligible to tax $16.4 million in adjusted gross revenue, leading to more than $1.6 million in tax receipts.
Year-to-date gross revenue is up 32.6% compared to last year at $263.4 million thanks in part to an 8.2% hold that is 24.8% higher than 2022. The state has been able to levy taxes on 63.4% of gross revenue thus far in 2023, notably higher than the 53.3% for the comparable period last year. The $16.6 million in tax revenue is currently $5.6 million ahead of last year’s pace.
Desert Diamond’s wild ride continues
| Month | Handle | Gross Revenue | Hold |
|---|---|---|---|
| January | $20,029,144 | $2,830,454 | 14.13% |
| February | $43,679,631 | $301,208 | 0.69% |
| March | $28,060,156 | ($1,276,869) | (4.55%) |
| April | $12,115,941 | $1,354,123 | 11.18% |
| May | $10,189,482 | ($177,332) | (1.74%) |
| June | $9,939,629 | $1,051,413 | 10.58% |
| TOTALS | $124,013,983 | $4,082,997 | 3.29% |