Home Finance Arizona sports betting spend surpasses $358m in August

Arizona sports betting spend surpasses $358m in August

by
368 views 1 minutes read

Consumers in Arizona spent more than $358.0m betting on sports in August, while operators in the state posted more than $30.0m in total revenue.

Total spend in Arizona amounted to $358.9m. This was marginally lower than the $361.0m bet in August 2022 but 11.1% ahead of $323.2m in July this year.

Bettors wagered $354.6m betting on sports online and a further $3.4m at retail locations across the state.

Player winnings stood at $327.2m, resulting in $30.9m in adjusted gross event wagering receipts before free bets. The latter is 10.7% lower than in August last year and includes $30.2m from online betting and $606,731 retail.

Free bets exceed $9.4m in Arizona in August

Reporting the figure, the Arizona Department of Gaming also noted the impact of free bets and promotional credits. These hit $9.5m in August, compared to $8.5m in the same month last year, with almost all coming from online betting.

When taking these free bets off, adjusted gross event wagering receipts reached $21.4m. This was 23.0% down year-on-year and 20.2% lower than August 2023.

Online sports betting accounted for $20.8m of this total, while retail contributed $600,727.

As for tax, sports betting tax in August was $2.1m. Almost all of this came from mobile bets, which are taxed at a rate of 10. The other $48,058 came from retail, taxed at 8%.

You may also like

About Us

On iGamingWorld, we provide in-depth analysis, the latest news and opinions from famous people of the gaming industry.

Featured Posts

Newsletter