The Arizona Department of Gaming recently revealed the totals for April, with the handle reaching close to $513 million for the month. With the influx of betting, Arizona sports betting has reached over $4 billion in overall bets. The state is the 11th in the country to reach this milestone.
This year has been solid for the state, with three of the first four months surpassing a $500 million handle. For April, the state ranked in the 6th position overall in the US, just behind Nevada by under $77 million.
April Arizona Sports Betting Numbers
Let’s take a look at the monthly numbers for April in Arizona. The overall handle was a bit lower than March, by 25.8%. However, this was expected since the sports schedule started to slow down at this time. Gross revenues dropped, by over 21%, with $29.2 million in earnings. The win rate for sportsbooks in April was 5.7%.
As far as promotional credits and deductions were concerned, the state reported over $12 million. While this seems like a large number, it was actually the lowest in the history of the industry in the state. It was a more than 30% drop from the previous month’s spending.
The state was able to tax the $18.6 million left over after deductions, providing over $1.6 million in taxes. Sports betting has provided over $6 million in taxes for the year.
Individual Operator Totals for the Month
In Arizona, FanDuel and DraftKings are top competitors. But of course, they are in every state. The two started out in the daily fantasy sports industry and quickly moved to add sports betting to the mix when the industry became available in states across the US.
For April, the two were able to bring in over $300 million in wagers, the bulk of the overall total for the state. FanDuel registered $149.8 million in wagers, which saw the brand reach the $1 billion handle mark. DraftKings had done so previously.
FanDuel had the best month of any operator in the state in April, reaching over $16 million in gross revenues. The hold for the company was 10.8%. The adjusted revenues came in at $12.3 million and helped provide almost 75% of the taxes paid to the state.
DraftKings experienced a much different month. The brand saw a hold of just under 1% and barely earned $1.5 million. The full amount was allowed to be deducted based on promotions. April marked the first time that DraftKings did not have any adjusted earnings since it launched in September 2021.
BetMGM had a solid month, seeing just over $100 million in bets with around $7.7 million in earnings. However, just over $5 million was promotional credits, which took most of the overall earnings away.
Rounding Out The List
Caesars did not have a good month at all, dropping over 34% with just over $62 million in bets. Gross revenues reached close to $1.7 million, a new all-time low for the brand in Arizona.
At the bottom of the heap are Barstool and BetRivers. Barstool generated $16.8 million in bets and only brought in under $550k for the month. BetRivers had over $6.2 million in bets, and just under $300,000 was taxed by the state.
Overall, the Arizona sports betting industry is doing well. Some operators may go through bad months, but once the sports schedule picks back up this fall, we should see a nice turnaround in bets and revenue earnings. Smaller sportsbooks like Hard Rock and SuperBook are hopeful that the coming months will help them boost both totals.