Arizona sports betting handle hits $512.9m in April

The state’s sports betting handle was $512.9m, 25.8 per cent lower than March’s record of $691m.

US.- Arizona’s sports betting handle came in at $512.9m in April, according to the Arizona Department of Gaming. That’s a drop of 25.8 per cent from a record $691m in bets in March. Sportsbooks made $29.2m in gross profits after federal tax. The hold for operators was 5.7 per cent.

After deducting $12.7m in free bets and other promotions, sportsbook operators posted a taxable revenue of about $16.5m. Arizona taxes retail sportsbooks at 8 per cent and online sportsbooks at 10 per cent, so the state recouped $1.6m in “privilege fees.”

Ted Vogt, director of the Department of Gaming, said in a press release: “Event wagering levels continue to look strong in Arizona, with over half a billion dollars wagered during April.”

Vogt added: “I am excited to see how the state closes out its first year of legal event wagering in the coming months.”

FanDuel and DraftKings combined accepted more than $300m in wagers. FanDuel became the second operator after DraftKings to clear a $1bn in mobile handle in Arizona after registering $149.8m in bet in May.

BetMGM registered a $100.6m handle and more than $7.7m in gross revenue. Caesars’ handle fell to $62.3m and its gross revenue was nearly $1.7m. Barstool Sportsbook took $16.8m in bets and BetRivers posted a monthly best of more than $6.2m. 

Arizona became the 11th state to surpass $4bn in overall bets. Sports wagering was legalised in the state in April 2021 and debuted in September. 

See also: Arizona becomes quickest state to reach $1bn in wagering