Sports betting in Arizona is roughly a year old now, having launched back in September 9, 2021. In the whole year, the state’s sportsbooks collected more than $5.4 billion in sports wagers. As a pay per head bookie, you know how much revenue that is for sportsbooks. Even the state was able to collect $21 million in fees. This is a very strong start for the local sports betting market.
Even more, online sports betting takes up 99% of all of the wagers made in state. So if you want to own a pay per head sportsbook, the potential income is more than enough to get you started. And even if you are concerned about the startup costs, it won’t be for long. Aside from the pay per head fees that you will regularly pay, promotional expenses will go down as you gain more customers. For instance, back in September 2021, Arizona sportsbooks spent upwards of $31.2 million in free bets, offers, and promos. But for August 2022, the amount is down to just $8.5 million. It tapers off after a few months, so you will be gaining more net income as the months pass by.
Sports Betting in Arizona for August 2022
The latest monthly sports betting report that we have from the Arizona Department of Gaming, or the ADG, is from August 2022. The total monthly handle for sports betting in August us at $361 million. This is much higher than July’s $288.2 million. The revenue for sportsbooks is at $36.3 million, with a 10% hold. The hold is higher than July’s 7.9% win rate, and yet we have higher revenue, which means that sportsbooks are doing more than just marginally better.
As for the adjusted revenue, we have $27.7 million for August, which is a good number, especially since August is practically the last month of the slower season for sports betting. As we anticipate more wagers coming in from September onward, its best to start using the best sportsbook pay per head service. Go live with your very own online sportsbooks, and earn a good amount of money during the peak sports betting season.