Tag: Sports betting

The Arizona Department of Gaming reported a further drop in the state’s sports wagering handle in June, with player spending falling 30.9% month-on-month.

Consumers wagered a total of $318.8m on sports during the month, down from $461.5m in May. Of this amount, $316.0m was spent betting on sports on mobile, with the remaining $2.8m bet at retail sportsbooks.

Players won $306.2m from sports betting in June, which resulted in $15.4m in revenue for licensed operators, down 721% from $55.2m in the previous month.

After accounting for $9.2m worth of free bets and promotional credits, taxable revenue for the month was $7.7m, a drop of 81.4% from $41.4m in May.

FanDuel once again led the way in terms of handle, taking a total of $106.3m in bets, some $104.0m of which were via mobile and $2.3m retail. DraftKings placed second with $92.8m in online bets, then BetMGM with $59.7 worth of online wagers.

Turning to gross revenue and FanDuel also claimed top spot with $7.4m in revenue, ahead of..

The Virginia Lottery reported a month-on-month drop in player spending on sports betting for the fourth consecutive month in July, though revenue in the state improved significantly.

Handle for the month amounted to $266.0m (£231.5m/€268.2m), which was 9.9% lower than $295.2m in June this year but 64.2% higher than $161.9m in July of last year.

Adjusted gross gaming revenue, which is defined as total bets minus winnings, bonuses and promotions and other authorised deductions, jumped 64.6% month-on-month to $21.4m.

The Virginia Lottery also noted that this amount was 68.5% higher than $12.7m in the same month in 2022.

Consumers in the state won a total of $240.0m from sports betting during the month, while $396,903 worth of bonuses and promotions were issued to players and the Virginia Lottery also accounted for a further $4.2m in other deductions.

Increased adjusted gross gaming revenue meant the state was able to collect a total of $3.1m in tax from sports betting in July.

Of th..