Arizona Sportsbooks Net $54.5M, U.S. July Hold Near 11%

The Arizona Department of Gaming reported $54.5 million in gross sports betting revenue for July as sportsbooks nationwide capped the summer month by combining for a hold of close to 11%.

Arizona revenue was up 28.1% from last year as the 11.7% hold ranked third all-time in 47 months of wagering behind June (12.6%) and May 2022 (12%). After promotional deductions, the 0.25% federal excise tax, and reported losses, the state’s sportsbooks totaled $40.7 million in adjusted gross revenue (AGR).

Nearly $4.1 million of that was redirected into state tax coffers as year-over-year AGR was up 40.4%. The $463.7 million handle represented an increase of 13.1% compared to July 2024 as Arizona sportsbooks have seen more action than their Nevada counterparts every month this year.

This summer, which includes August revenue reports rolling in, has seen an unprecedented lengthy wave of success for operators in the U.S. Following a post-PASPA record 12.4% monthly win rate on gross revenue in June, the hold for July is the fourth to reach double digits this year.

August is tracking to be the fourth consecutive month with U.S. sportsbooks attaining a 10% or higher win rate as parlays remain wildly popular. They rank among the primary wagering options in the summer via players hitting home runs, with baseball as the main sport of choice.

DraftKings, FanDuel prove formidable once more

FINAL July #SportsBetting handles by state (1/4):

1 New York $1.41B
2 Illinois $862.5M
3 New Jersey ~$664M
4 Ohio $532.6M
5 Mass. $489.5M
6 ARIZONA $463.7M
7 Virginia $429.3M
8 Nevada $419.3M
9 Penn. $412.5M
10 N.C. $370.4M#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) September 19, 2025

Arizona can serve as a microcosm of sports betting this summer nationwide when examining the marketplace’s two leaders — FanDuel and DraftKings. The eternal rivals have posted holds on gross revenue of 11% or better in each of the last three months in the Grand Canyon State.

FanDuel took monthly honors for both revenue and handle at $18.1 million and $155.3 million, respectively, crafting an 11.7% win rate. Its July handle surged 23.4% compared to last year, and a hold nearly one-half of a percentage point higher provided a 28.2% rise in winnings.

DraftKings had the state’s best hold among leading mobile operators at 13.2%, which led to $16.6 million in revenue from $125.5 million worth of wagers. Its revenue was flat compared to last year, but handle slumped 14.5%.

BetMGM had back-to-back months with 12% holds for the second time in Arizona, reaching 12.3% in July as it claimed $7.1 million from $57.7 million handle. Its win rate was 3.5 percentage points higher from July 2024 as revenue skyrocketed 69.3% versus the 20.9% bump in action.

Fanatics ($36.1 million) and bet365 ($32.2 million) rounded out the top five for handle, and Fanatics more than doubled its revenue from last year to $4.7 million on the strength of a 13% hold. In addition to a bumper performance month, Fanatics had a 123.7% rise in handle while its promotional outlay of close to $1.4 million was flat from July 2024.

Bet365 had better metrics in the latter area with handle up 60% and promo spend down nearly 35%. Revenue rose 40% as the 8.6% win rate for the month was down close to 1.25 percentage points.

Putting a wrap on July

Nationwide gross revenue in July totaled $929.9 million, which does not include Tennessee as its sports wagering council does not collect revenue data. (The state collects sports betting tax via handle.) The 10.9% national handle — which does not include Tennessee and Nebraska figures as the latter does not publish handle numbers — was actually down nearly two-tenths of a percentage point compared to July 2024, with operator revenue up 9.4% compared to the 11% increase in wagering to $8.5 billion.