Arizona Sports Betting Sees Revenue Growth in August 2024
In August 2024, Arizona’s sports betting industry reported notable growth, with revenues reaching $37.3 million—a 17.7% increase compared to August 2023.
38% Increase in Sports Betting Handle
The total handle reached $496.6 million, marking a 38.4% year-over-year increase and a 21.1% increase over July 2024. Most of this handle, $473.8 million, came from online betting, while $22.8 million was generated from retail outlets.
While sports betting revenues rose compared to August 2023, they saw a 12.2% decline from July 2024. After deducting $14.9 million in free bets and promotions, the adjusted gross revenue (AGR) stood at $22.4 million—up 4.7% from August 2023 but down 22.8% from July 2024.
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Arizona Sports Betting Operator Performance in August 2024
In August, DraftKings led in handle, recording nearly $170.3 million, while FanDuel posted a strong $145.8 million. This gap was significantly wider than in August 2023, when DraftKings had only a 0.4% edge over FanDuel. In 2024,
DraftKings saw approximately 15.5% more bets than FanDuel and the highest year-over-year growth rate at 47.4%.
However, FanDuel outperformed DraftKings in adjusted gross revenue (AGR), generating $9.8 million from a $162 million handle, with a hold rate of 6.0%. DraftKings ranked second with $8.5 million in revenue from a $175.8 million handle, reflecting a hold rate of 4.84%.
Caesars was the only top-five Arizona operator to experience a decline from the previous year, with a 16.4% drop in revenue. Caesars reported $1.2 million in revenue from a $28.7 million handle, with a hold rate of 4.18%.
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