FanDuel and DraftKings revenue performance
FanDuel barely squeezed past DraftKings for the top revenue spot in July, pulling in just over $13.9m — a solid 49.2% jump from last year’s numbers.
DraftKings wasn’t far behind at $13m monthly revenue, though their figures actually slipped 2.5% compared to July 2024. That’s a surprising dip given the overall market growth.
BetMGM secured third place with $5.2m in revenue, while Fanatics made some noise by generating $3.2m and beating out Caesars’ $2m total. Even bet365 managed to edge past Caesars with $2.1m.
The Arizona Department of Gaming tracks all this activity, and Director Jackie Johnson has been busy sending warnings to operators about their partnership choices.
Why mobile betting crushed retail locations
Arizona bettors wagered a hefty $463.7m total in July, marking 13.1% growth from the same period last year. But here’s where it gets interesting — mobile betting absolutely dominated the landscape.
Online platforms handled $462.5m of that total volume, which means retail sportsbooks barely registered on the radar. Physical locations only managed $1.2m in handle, representing a brutal 77.5% drop from July 2024.
Only four operators even bothered keeping retail locations open: BetMGM, Caesars, FanDuel and DraftKings. Their combined retail revenue hit just $104,581 for the entire month, falling about $180,000 short of last year’s performance.
What regulators warned operators about
The state gaming department dropped official warnings in September, telling all licensed operators to steer clear of partnerships with event contract trading companies. These aren’t just gentle suggestions either — violating the guidance could cost operators their licenses.
Arizona’s already shown they’re serious about enforcement. Back in April, they sent cease-and-desist letters to six unlicensed operators including ARB Gaming, Epic Hunts, Generiz, ProphetX, MyBookie and BetUS.
The crackdown targets companies selling event contracts in states where such activities break local laws, and regulators are watching these partnerships very closely.
How this affects major operators
FanDuel might find itself in the regulatory crosshairs over its recent CME Group partnership. The companies announced their joint venture on August 20, planning to develop “fully funded, event-based contracts with defined risk.”
The timing creates some awkward questions since Arizona issued its warnings just weeks after that announcement. Other operators are probably reviewing their own partnerships right now, especially given Johnson’s clear message that licensing decisions could hinge on these relationships.
Despite the regulatory drama, Arizona’s $40.7m total revenue shows the market keeps expanding at a healthy clip.
