Tag: sports betting revenue reports

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
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Virginia wagering operators see 24.6% year over year revenue growth in May

Sports betting operators in Virginia had a stunning May, earning $60m in adjusted gross revenue as compared to $42.5m in May 2023. Those betting in the state laid down $505.6m, a 25.2% increase against the same month last year.

Handle and revenue were down for Virginia wagering operators against April, but that is consistent with the US sports calendar. The men’s and women’s NCAA basketball semi-finals and finals were played in April. This year’s women’s basketball tournament fetched more handle than ever before.

May featured the start of the post-season in the NBA and NHL as well as regular-season baseball.

Virginia wagering operators had an 11.9% win rate, continuing a trend of double-digit holds, according to the report. It marked the 21st time that operators had a double-digit hold since the first platforms went live in January 2021.

The state was able to tax $53.6m of the total AGR as operators wrote off just over $6m in promotions and “other deductions”. When sports bettin..

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