It looks like the sports betting handle has dropped for Arizona, according to a release put out about the industry’s April numbers. The Arizona sports betting handle for April came to $512.8 million. This is around a 26% drop from last month. However, the state itself is still doing pretty great compared to others.
The drop seems so large because Arizona sports betting had a great month in March. March’s handle totaled $691 million, which is a huge increase from the month before that. In February, the Grand Canyon state saw just over $491 million, so with a $200 million jump the month before, the April numbers were bound to be disappointing.
So far this year, the state’s total handle adds up to around $2.26 billion. This is a great number for just four months, and Arizona can expect to see much more money be put into wagering as the year progresses, with the NFL season and college football season happening.
Where did the handle come from?
There were quite a few events that bettors put their money towards in April. These included the beginning of the MLB season, the Final Four of the NCAA Tournament, the start of the NBA playoffs, and the end of the NHL and NBA seasons.
DraftKings brought in the most money, their handle totaling $155.9 million. After them came FanDuel, with an April handle in Arizona of almost $149 million. The third biggest player in the state was BetMGM. The sportsbook operator saw a handle of $100.6 million, just barely in the nine figures.
The majority of the handle was made up of online bets. The online sports betting industry brought in $509.5 million of the total handle, which comes to about 99.3%. Retail sports betting brought in only $3.3 million. FanDuel brought in $2.7 million of the retail handle through their Footprint Center, which is an in-person betting location for the sportsbook.
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Where the Arizona Sports Betting Money Goes
It’s good news for the state: Arizona brought in around $1.6 million in state privilege fees from sports betting alone. The sportsbooks had to pay out a pretty large amount of winnings in April. Total winnings equated to $482 million.
Although the April numbers seemed a bit disappointing, it’s important to remember that March had a few more interesting events for bettors to put their money on. One of these was the NCAA March Madness tournament for men’s college basketball. March Madness always seems to generate a larger handle in any state, so the April drop was not completely unexpected by any means.
Even so, the Arizona sports betting industry has now officially surpassed $4 billion since the industry was legalized, which is great news for the state. It is most likely going to grow even larger throughout the year, and into next year. Only 10 other states have passed the $4 billion mark, and Arizona was the 6th state in April handle rankings, so things are still looking pretty good.