The Arizona Department of Gaming reported $61.3 million in gross sports betting revenue before any deductions were taken in August, completing a fourth consecutive month in which sportsbooks nationwide had a collective hold above 10%.
Gross revenue surged 65.3% compared to last year as the Grand Canyon State’s hold edged over 10% against $610.7 million handle. Wagering was up 23% compared to last year as Arizona extended its year-long streak of posting higher monthly handle totals than neighboring Nevada. Arizona sportsbooks have accepted $5.52 billion worth of bets through the first eight months of 2025 compared to $4.83 billion by their Nevada counterparts.
The state was eligible to tax $41.5 million in adjusted gross revenue, redirecting about $4.1 million into its state coffers. The $8.2 million accrued in the first two months of the fiscal year is running $3.1 million ahead of last year’s pace, while the $34.5 million in receipts for the 2025 calendar year is $6.4 million more than 2024.
Bet365 roars into third for handle
Arizona can be argued as a business-friendly state for sportsbooks given the ability to deduct promotional spend against gross revenue. The $18.4 million in credits and bonuses provided by operators was up 23.7% from last year, with the bulk coming from expected sources DraftKings and FanDuel. The two leviathans accounted for close to $12 million of that spend, with DraftKings’ $6.9 million outlay leading all mobile books and up 47.3% year-over-year.
The spend paid off as DraftKings did the double in leading all operators in handle ($182.8 million) and gross revenue ($20.2 million). It also posted a hold of 11% or better for the fourth straight month, extending its longest double-digit run of win rates operating in Arizona.
FanDuel was a close second in both categories, claiming $19.6 million in winnings from $178.5 million worth of wagers as it just missed an 11% hold as well. It eclipsed $900 million in all-time gross revenue in the state and has posted win rates of 10.2% or better in every month but March this year.
While FanDuel and DraftKings slug it out at the top, bet365 served notice it will compete for the final podium spot with BetMGM and Fanatics. The England-based book had an all-time record for monthly action at $68 million, an increase more than threefold compared to last August and good enough for third.
The possibility of a “whale” or VIP bettor in the desert exists considering bet365’s promotional spend for August was only $682,118. That was down 26.9% year-over-year and its second-lowest outlay of 2025.
More evidence pointing to a single large bettor was bet365’s meager 2.3% hold as all that action reaped only $1.5 million in winnings. That was down 10.9% versus 12 months ago.
BetMGM narrowly lost that podium spot as handle came in at $67.2 million, but there was plenty of solace to be had thanks to its third consecutive 12%-plus hold. That produced $8.5 million in winnings, a 178.1% year-over-year increase. Its summer-long rout of Arizona bettors has contributed to a 20.3% bump in year-to-date revenue at $60.9 million.
Looking strictly at year-over-year numbers, Fanatics also had a strong August as it continues to keep Caesars out of the top five in Arizona. Handle and revenue more than doubled as it retained $4.4 million of the $48.1 million handle generated. Its promotional spend increased only 4.8% to nearly $1.7 million, and the 9.2% win rate marked a fifth straight month at 8.6% or better.
Another month, another 10%-plus hold nationwide
Arizona’s figures completed another banner month for sportsbooks as the 32 states that publish handle and revenue figures combined for a collective 10.8% hold in August. It was the fourth month in a row above 10%, the longest such run in the post-PASPA era and nearly two full percentage points higher than August 2024.
All but four states attained double-digit win rates in August, and the lowest among that quartet was New York at 8.7%. It can be argued a “whale” bettor largely contributed to that low hold as Fanatics’ handle in the Empire State that month skyrocketed to $565.8 million.
Whoever the bettor or bettors were, they performed well enough to limit Fanatics to a 2.8% hold in claiming $16.1 million in revenue. New York’s other seven mobile sportsbooks largely kept the August status quo: They combined for a near-11% win rate.
Wagering in those 32 states totaled more than $10.6 billion, a 21.3% increase compared to 2024. The $1.14 billion in revenue, however, represented a 48.3% jump from 12 months ago. Those figures do not include wagering in Tennessee and Nebraska; the former does not collect revenue data since it taxes handle, and the latter does not publish monthly handle totals.
August’s revenue was also 20.1% higher than the $952.1 million collected by operators in March when their collective hold was a year-low 6.3%. Sportsbooks took a hit that month when all four No. 1 seeds reached the Final Four of the NCAA Tournament, something they emphatically regrouped from with holds of 10.77% or higher each month from May through August.
The $4.66 billion in gross revenue accumulated in that four-month span is 30.4% higher than May through August of 2024.
