arizona sports betting

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
..

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..

June 26, 2024

Coyotes owner to unwind team; SaharaBets likely to exit Arizona

Arizona Coyotes owner Alex Meruelo has given up hanging onto what remains of his NHL team, and will dissolve the team. Muruelo had been planning to build a new Phoenix-area arena and the NHL gave him five years to recreate his team.

But days after a land deal fell through, Meruelo decided to move on, PHNX Sports reported Tuesday (25 June). And with that decision, it seems clear that SaharaBets will also exit Arizona. The digital sports betting platform is tethered to the franchise, as required by Arizona law. It launched in January 2022.

In April Meruelo sold the players and game operations to a Utah-based group. He retains the rights to the name, team IP, records and the AHL (American Hockey League) Roadrunners affiliate franchise. At that time, the NHL classified the Coyotes as an “inactive” team. Meruelo now says he will unwind team operations within 30 days.

More on Meruelo and his NHL ownership demise!
NHL Faces a Reset After Meruelo’s Missteps and Coyotes Collapse ⁦⁦@Arizo..

June 25, 2024

Arizona Coyotes lose chance at new arena site. Does this affect wagering licence?

The Arizona Coyotes – currently an NHL team in name only – announced late on Friday that the state cancelled a land auction on property targeted for a new arena. Without players or a place to play, can the Coyotes keep their event wagering licence?

There does not currently appear to be a clear answer to that question. The Coyotes are among eight professional sports franchises that are licensed to offer legal digital event wagering in Arizona.

Owner Alex Meruelo in April sold the players and game operations to a Utah-based group. He retains the rights to the name, team IP, records and the AHL (American Hockey League) Roadrunners affiliate franchise. At that time, the NHL classified the Coyotes as an “inactive” team.

That designation does not appear to have changed. But the Coyotes’ plans to acquire new land on which to build a new arena have been stymied.

“Today, after a year of planning and meeting every obligation required under Arizona law, the Arizona State Land Department un..

June 7, 2024

Arizona Department of Gaming opens new event wagering application window

The Arizona Department of Gaming (ADG) will accept event wagering applications between 8 July and 19 July, the agency announced on Friday (7 June). The application window will close at 5pm local time on the 19 July. There are currently 17 operators live in the state and state law allows for up to 20 digital platforms.

The ADG will consider a minimum of one event wagering application each for a tribal casino and professional sports franchise.

In Arizona, event wagering operators must be tethered to a professional sports franchise or Indian tribe. The law allows for 10 licences each for pro sports venues and tribes. Nine tribal licences are spoken for, and eight of the pro-franchise licences have been issued. That means there is one tribal licence and two pro-franchise licences available.

A key question is whether or not there are anymore professional sports venues that could even qualify for a licence under the law.

Will anyone apply for pro-franchise licence?

The NFL Arizona C..

April 25, 2024

NHL Coyotes leave Arizona. What will happen to their event wagering licence?

Salt Lake City welcomed the NHL team that was formerly the Arizona Coyotes on Wednesday (24 April) night. When the team boarded a plane headed north, it would seem that it had vacated an event wagering licence in Arizona. But SaharaBets is still live and the situation might not be as clear as it appears.

The Arizona Department of Gaming told iGB via email that neither the team nor SaharaBets had been in contact. The NHL is calling the Coyotes franchise “inactive” and the sale to a Utah-based group is a bit unusual, as current owner Alex Meruelo retained rights to the name, team IP, records and the AHL Roadrunners affiliate franchise.

It appears that unless the Coyotes or SaharaBets makes formal contact with ADOG, the site will remain live. In this situation, ADOG doesn’t appear to have a way to take action. Rather, the state legislature could clarify language saying that a team must be active to have an Arizona event wagering licence.

“The department is aware of the recent reports ..

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Tag: arizona sports betting