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With another impressive month in April, Arizona sports betting becomes the fastest state in the post-PASPA era to reach $10 billion in sports betting handle.
It only took Arizona 20 months to eclipse $10 billion, doing it two months faster than Illinois did in February 2022.
For April, Arizona sportsbooks generated $535.7 million in handle, slightly down from March’s revenue of $645 million.
Arizona reaches a milestone with $10 billion in sports betting handle
Hitting the $10 million milestone is a challenging feat. In doing so, Arizona joins an impressive list of states to reach that feat and the third in 2023.
Of the 29 states with legal sports betting, only nine have reached $10 billion:
- New Jersey – $38.3 billion
- Nevada – $33.02 billion
- New York – $24.63 billion
- Illinois – $22.57 billion
- Pennsylvania – $22.06 billion
- Indiana – $12.3 billion
- Colorado – $12.1 billion
- Michigan – $10.8 billion
- Arizona – $10.16 billion
- Virginia – $10.02 billion
Earlier this year, Michigan and Virginia topped $10 billion in handle.
April sports betting by the numbers
According to data from the Arizona Department of Gaming, the 17 online sportsbooks accepted over 99% of monthly bets. The 25 retail sportsbooks accepted approximately $4.6 million in bets.
Sportsbook operators reported $49.2 million in gross revenue, translating to $3.4 million in tax revenue for the state.
Year-over-year, the handle was up 4.5% compared to April 2022. However, it was adjusted gross revenue that genuinely shined. Compared to the same period last year, gross revenue more than doubled.
Three sportsbooks, FanDuel, DraftKings and BetMGM, accounted for the bulk of the handle and revenue produced in April.
The FanDuel Sportsbook stood atop with $212.9 million in handle and $21.9 million in gross revenue in April.
DraftKings came in second with $148.7 million in handle and $13.9 million in revenue. Closing out the top three was BetMGM, which generated $72.4 million in handle and $7.7 million in revenue.
From a negative side, the Caesars Sportsbook saw its revenue drop over 50% from March to $2.4 million. PENN Entertainment’s Barstool Sportsbook took the No.5 spot with $12.4 million in handle and $316,000 in revenue.
