The Arizona Department of Gaming has announced the sports betting totals for the month of April, and the state put up some impressive numbers once again. The total sports betting handle for the month dropped from a record-setting March, but the total was still over $512 million.
This total for April was the third-highest month on record in the state and shows that Arizona has remained competitive with other markets in the United States. Sports betting tends to slow down after the March Madness basketball tournament, and that was the case in Arizona.
It was a good month for sportsbooks in the state in terms of revenue as that total was over $16.5 million. With such an impressive gross betting revenue, the state of Arizona was able to bring in over $1.6 million in tax revenue.
Arizona has now had legal online sports betting since September 2021, and the total handle has now gone over the $4 billion mark. This state legalized sports betting as a way to bring in more tax revenue for the state, and it has brought in nearly $12 million.
Online sports betting continues to bring in the most amount of wagers in Arizona, but new retail sports betting options are coming. Caesars Sportsbook at Chase Field is now open for business, and similar retail sportsbooks are coming.
Just Outside Top Five
In the first eight months of online sports betting in Arizona, it is clear that this state is on its way to becoming one of the biggest in the United States. A recent report suggests that bettors are coming to Arizona from Nevada, and it could lead to some extremely impressive numbers.
The $512.8 million in total handle for the month of April puts Arizona in sixth place for the month. Pennsylvania came in at fifth place on the list as that state posted a total sports betting handle of more than $572 million.
Nevada was in fourth place with a total handle of $582 million, and Arizona could eventually pull up into fourth place. New York, New Jersey, and Illinois all had totals of more than $839 million, and Arizona won’t be able to keep pace.
DraftKings, FanDuel Setting the Tone
The state of Arizona has become a massive sports betting market, and it’s one that is loaded with some of the top sportsbooks in the industry. This competition is terrific for sports bettors in the state, but a pair of sportsbooks are clearly leading the way.
DraftKings Sportsbook posted a total sports betting handle of $155.9 million for the month of April, which accounted for 31% of the market share. FanDuel Sportsbook was right behind the leader with $149.8 million, or 29% of the market share.
While there was very little separation in terms of the total handle, FanDuel had a massive lead in terms of revenue. That sportsbook posted an online revenue of $16.5 million, while DraftKings was below $2 million.
BetMGM Sportsbook and Caesars were the only other sportsbooks that accounted for at least 10% of the total market share.
