Arizona the 5th-Best Sports Betting State in April

Only four states saw more sports betting revenue in April than the growing Arizona sports betting, even with a drop in handle from a record-setting March.

Only the New York, Illinois, New Jersey, and Ohio legal sports betting scenes accepted more wagers in April than the best sports betting sites in Arizona, according to the Arizona Department of Gaming April revenue report released Friday.

Of note, Arizona sports betting apps and the state’s retail providers combined for a higher handle than neighbor Nevada for the first time in its 32 months since legalization.

Although Arizona’s sports betting handle in April was down month-over-month from a record March, wagering activity in the state did increase year-over-year. Revenues for Arizona’s best sportsbooks grew both year-over-year and month-over-month as the state enticed new users with the best Arizona sportsbook promos.

Betting activity in April made Arizona just the seventh state in the expanding U.S. legal sports wagering market to eclipse $17 billion in lifetime handle.

$656.3 million April handle in Arizona

Arizona's sports betting providers took in a combined $656.3 million in wagers in April. That marked an impressive 22.5% year-over-year increase from the $535.7 million wagered in April 2023 and was an understandable 13.6% month-over-month drop from March’s record $760 million handle.

Arizona’s 16 mobile apps made up all but $6.4 million of the state’s overall handle. They accounted for about 99% of all sports betting activity in the Grand Canyon State.

April’s handle helped the Arizona legal sports betting scene surpass the Indiana sports betting scene in terms of lifetime handle and, as mentioned, allowed the state to eclipse a $17 billion all-time handle.

$64.9 million in gross sports betting revenue

Arizona’s best sports betting apps, along with the state’s retail sports betting providers, combined for $64.9 million in gross sports betting revenue in April. That figure is both a month-over-month and year-over-year improvement.

The $64.9 million figure is an impressive 32.1% better than the $49.16 million in April 2023 and is a 9.5% improvement from the almost $59.3 million reported in March.

A combined 9.9% hold is partly responsible for the increased revenues for Arizona sportsbooks. April’s hold came in as the second-highest in the last 10 months of operation. By comparison, the win rate in April of last year was 9.2%. In March, Arizona sportsbooks held just 7.8%.

Adjusted taxable revenue came in at $43.4 million in April, which resulted in just over $4.3 million in taxes flowing to needy state and local coffers in the Grand Canyon State. Year-to-date, Arizona sportsbooks have paid out $15.5 million in taxes, which is $3.9 million better than the same four-month period in 2023.

FanDuel tops Arizona market in April

FanDuel and DraftKings were the easy 1-2 finishers in the Arizona legal sports betting market in April. FanDuel led the way with a $230.3 million handle and $27 million in revenues off of an 11.7% hold, while DraftKings was second with $209.8 million in accepted wagers in April with $19.5 million in revenues off of a 9.3% hold.

BetMGM rounded out the top three with a $76.4 million April handle and $8.5 million in revenue and an 11.2% hold. Caesars finished well back in fourth with $39.1 million in April bets and $3.2 million in revenue, while bet365 checked in at a respectable fifth with $30.2 million in April wagers and nearly $2 million in revenues.

ESPN BET was a disappointing sixth with $21.6 million in wagers - its worst month in the Grand Canyon State market yet - along with $1.9 million in revenue. Fanatics, which debuted in the state on April 4, accepted $15.7 million in bets in April and reported $1.46 million in revenue.

Betfred Arizona, Golden Nugget Arizona, and Unibet Arizona all reported revenue losses for the month.