Arizona the 5th-Best Sports Betting State in April

Despite a decrease in handle from a record-setting March, only four states surpassed Arizona in sports betting revenue for the month of April.

According to the Arizona Department of Gaming’s April revenue report released on Friday, only New York, Illinois, New Jersey, and Ohio legal sports betting scenes accepted more wagers than the top sports betting sites in Arizona.

It is worth mentioning that Arizona’s sports betting apps and retail providers generated a higher handle than Nevada for the first time in 32 months since legalization.

Despite a decrease in Arizona’s sports betting handle from March to April, wagering activity in the state saw a year-over-year increase. Revenues for Arizona’s top sportsbooks also grew compared to both the previous year and the previous month, thanks to enticing promotions for new users.

In April, Arizona became the seventh state in the growing U.S. legal sports betting market to surpass $17 billion in lifetime handle.

$656.3 million April handle in Arizona

In April, sports betting providers in Arizona saw a total of $656.3 million in wagers, a 22.5% increase from the same time last year when $535.7 million was wagered. However, there was a 13.6% decrease from the record $760 million handle seen in March.

Arizona’s 16 mobile apps accounted for nearly all of the state’s total handle, with only $6.4 million coming from other sources. These apps were responsible for approximately 99% of all sports betting activity in Arizona.

April’s involvement in the Arizona legal sports betting industry led to the state surpassing Indiana in terms of lifetime handle, ultimately helping Arizona reach a record-breaking $17 billion in all-time handle.

$64.9 million in gross sports betting revenue

In April, Arizona’s top sports betting apps and retail providers generated a total of $64.9 million in gross sports betting revenue, marking an increase compared to both the previous month and the previous year.

The $64.9 million amount represents a significant increase of 32.1% compared to the $49.16 million in April 2023 and is also a 9.5% improvement from the nearly $59.3 million reported in March.

The increased revenues for Arizona sportsbooks can be attributed in part to a combined hold of 9.9%. This marks the second-highest hold in the past 10 months of operation, with April surpassing last year’s win rate of 9.2%. In comparison, March saw a hold of just 7.8% for Arizona sportsbooks.

In April, taxable revenue was adjusted to $43.4 million, generating $4.3 million in taxes for state and local governments in Arizona. So far this year, sportsbooks in the Grand Canyon State have contributed $15.5 million in taxes, an improvement of $3.9 million compared to the same period last year.

FanDuel tops Arizona market in April

In April, FanDuel and DraftKings dominated the Arizona legal sports betting market. FanDuel took the top spot with a $230.3 million handle and $27 million in revenues from an 11.7% hold. DraftKings followed closely behind with $209.8 million in accepted wagers and $19.5 million in revenues from a 9.3% hold.

BetMGM came in third place with a total handle of $76.4 million in April, generating $8.5 million in revenue and holding at 11.2%. Caesars followed in fourth place with $39.1 million in bets and $3.2 million in revenue. bet365 secured fifth place with $30.2 million in wagers and close to $2 million in revenues.

In April, ESPN BET came in sixth place with $21.6 million in wagers, marking its lowest performing month in the Arizona market. The company earned $1.9 million in revenue. Meanwhile, Fanatics, which entered the market on April 4, saw $15.7 million in bets and reported $1.46 million in revenue.

In Arizona, Betfred, Golden Nugget, and Unibet all experienced declines in revenue for the month.