Arizona hails “strong” April as betting handle hits half a billion
DraftKings and FanDuel continue dominance of Grand Canyon State sportsbook market
Arizona continued its triple-digit ascent up the US sportsbook handle rankings in April, with Grand Canyon State operators reporting over $512m in handle during the month.
Latest figures released by the Arizona Department of Gaming (ADG) confirmed the half-billion figure, which was down 25% month on month (MoM) when compared to March’s total of $691m handle, a figure buoyed by betting on the NCAA March Madness tournament.
Arizona sportsbooks generated $29.2m in revenue during April, a figure down 21% MoM from the $37.2m revenue figure confirmed by the ADG in March.
Operators shelled out $12.7m in free bets and promotions in April, incentives which reduced the taxable revenue figure to $16.5m during the month, with the ADG collecting $1.6m in taxes.
US sportsbook giants DraftKings and FanDuel continued their two-way tussle for supremacy in the Arizona sportsbook handle stakes, with DraftKings processing $155.9m in bets, just ahead of FanDuel with $152.5m.
BetMGM retained its bronze medal position in the market, processing $100.6m in bets during April, just ahead of Caesars, which processed $63m in bets over the same period.
In respect of revenue, FanDuel generated the most revenue in April with $16.2m, ahead of BetMGM’s $7.7m and Caesars with $1.7m in revenue.
Despite its high handle figure, DraftKings could only manage $1.5m in revenue in April.
Of the two retail sportsbooks operating in the state, FanDuel’s Footprint Center sportsbook took $2.6m in bets, while Caesars Chase Field sportsbook only managed $668,366.53.
“Event wagering levels continue to look strong in Arizona, with over half a billion dollars wagered during April,” ADG director Ted Vogt said.
“I am excited to see how the state closes out its first year of legal event wagering in the coming month,” he added.
Arizona is set to become the first state with legalized sports betting to host the NFL Super Bowl, with the Grand Canyon State being home to Super Bowl LVII in February 2023.