• About Us / Contact
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Arizona Moves Past $4 Billion In All-Time Sports Wagering Handle

Stellar first year of launch continues with $513 million wagered in April

Chris Altruda by Chris Altruda
July 5, 2022
in Industry
Arizona 2022 april revenue report

Shutterstock

Share on FacebookShare on Twitter

Arizona continued its impressive first full year of legalized sports wagering, becoming the 11th state to surpass $4 billion in overall bets after the state’s Department of Gaming reported nearly $513 million in handle for the month of April.

The Copper State reached the milestone in just eight months and has cleared $500 million handle in three of the first four months of 2022 after coming up just shy in December. Arizona ranked sixth nationally in handle for the month of April behind New York, New Jersey, Illinois, Nevada, and Pennsylvania.Β It lagged less than $77 million behind its geographical neighbor Nevada.

Despite releasing just four revenue reports for the year, Arizona currently ranks seventh nationally in handle with more than $2.2 billion worth of wagers.

April’s handle was 25.8% lower than March’s record volume of $691 million, an expected downturn that comes with the lighter sports schedule. Gross operator revenue also tumbled sharply, falling 21.4% to $29.2 million. The sportsbooks’ 5.7% win rate was more than one-third of a percentage point higher than in March.

Though promotional credits and deductions totaled more than $12.7 million, it was the lowest in the eight months of operation and 31.3% lower than the $18.6 million awarded by operators in March. That meant the state could levy taxes on the $16.5 million in positive adjusted revenue that came from seven of the 18 mobile operators and two of three retail sportsbooks. The state collected more than $1.6 million in taxes for April, raising the total for the year to more than $6.1 million.

Arizona’s report also closed the national book on commercial sports wagering in the U.S. for April, with the accumulated handle about $11 million shy of $7.5 billion. That is a 19.1% month-over-month decline from the nearly $9.3 billion wagered in March, but more than double the $3.7 billion wagered in April 2021 when 20 states and jurisdictions offered legal commercial wagering compared to the current 26.

April was a better month for the house than March in terms of win rate nationwide. Sportsbooks topped the industry standard of 7% for the first time in 2022, but just barely, at 7.05% compared to 6.5% for March.

Operators claimed $528.1 million in gross revenue nationally and more than $452 million in adjusted revenue, with the latter resulting in state tax receipts totaling more than $110.5 million. Nearly half of that total ($53.1 million) came from New York, as the mobile leviathan continues to render year-over-year comparisons largely moot in its first year of digital play.

Just shy of $40 billion has been reported in wagers nationwide thus far in 2022, more than two-thirds the $57.7 billion wagered all of last year.

FanDuel and DraftKings have divergent months

APRIL #SportsBetting numbers for #Arizona via DoG, a 🧡. Mobile Han/GGR/WR by operator (2/6)@DKSportsbook $155.95M/$1.51M/0.97%@FDSportsbook $149.83M/$16.18M/10.8%@BSSportsbook $16.81M/$544.2K/3.24%

6/x #GamblingTwitter

— Chris Altruda (@AlTruda73) July 5, 2022

In Arizona, there was little daylight in handle between eternal mobile rivals FanDuel and DraftKings, which combined to accept more than $300 million in wagers. FanDuel became the second operator after DraftKings to clear $1 billion in mobile handle in the Grand Canyon State after registering $149.8 million in bets.

FanDuel, in fact, had the most robust revenue month of any operator in Arizona since launch, claiming close to $16.2 million in gross revenue while posting a 10.8% hold. Its $12.3 million in adjusted revenue represented a high-water mark in the state and accounted for close to 75% of the state’s overall tax receipts.

In stark contrast, DraftKings had a hold of just under 1% for April and finished with barely more than $1.5 million in gross revenue — all of which was allowed to be deducted via promotional credits. It was the first time DraftKings did not have any adjusted positive revenue since its first month of operation in September.

BetMGM squeaked out a nine-figure handle at $100.6 million and found a sweet spot of sorts, with more than $7.7 million in gross revenue. Its promotional outlay continues to be heavy — BetMGM totaled nearly $5.1 million in such credits for April, and nearly 76% of its $37.4 million in gross revenue for 2022 has gone untaxed.

Caesars had a dramatic fall-off in month-over-month handle, plummeting 34.6% to $62.3 million. Its gross revenue of nearly $1.7 million represented an all-time monthly low since launch, as did its 2.7% hold.

Barstool Sportsbook rounded out the five operators with eight-figure handles, taking $16.8 million in bets to clear benchmarks of $75 million for the year and $150 million overall. It also did not fare well in April against bettors, who limited the book to a 3.2% win rate and less than $550,000 in gross revenue.

BetRivers was able to buck the trend of dips in handle, posting a monthly best of more than $6.2 million. It also posted a positive net AGR for April, with nearly $32,000 of the $292,627 eligible to be taxed at 10%.

Smaller operators trying to find their stride

SuperBook was another operator to report an increase in handle, clicking higher to nearly $2 million compared to $1.2 million in March. The increase in gross revenue was not equivalent, as its 7.4% win rate was about three full percentage points lower, resulting in a revenue bump of $8,000 to nearly $143,000.

Hard Rock Sportsbook had a nearly three-fold uptick in handle to close to $900,000, but a 1.2% hold meant its month-over-month gross revenue increase was less than $800. Some were even less fortunate, as Desert Diamond reported the biggest monthly gross revenue loss among operators at more than $42,000. Bally Bet, meanwhile, was nearly $11,000 in the red for April.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73.

Related Posts

DK EV Eric
Industry

DraftKings Jumps 19% As Shift To Parlays Leads To Q2 Earnings, Revenue Beat

August 5, 2022
Monthly Stock Watch
Industry

Monthly Stock Watch: Sports Betting Stocks Rally From 2022 Lows

August 4, 2022
Load More

Top Sportsbooks In Your State

1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetRivers Sportsbook
Review / 4.2
BET NOW
T&Cs ApplyOnly 1x Wager Applies
1
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
SugarHouse Sportsbook
Review / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
bet365 Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
BetRivers Sportsbook
Review / 4.2
BET NOW
T&Cs ApplyOnly 1x Wager Applies
2
FOX Bet Sportsbook
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
SI Sportsbook
Review / 4.1
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
SuperBook Sports
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetRivers Sportsbook
Review / 4.2
BET NOW
T&Cs ApplyOnly 1x Wager Applies
1
SI Sportsbook
Review / 4.1
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
Betfred Sportsbook
Review / 3.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
BetRivers Sportsbook Ontario
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook Ontario
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
NorthStar Bets Sportsbook
Review / 4.6
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Bet99 Sportsbook
Review / 4.7
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Sports Interaction Ontario
Review / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
PowerPlay Sportsbook
Rating / 3.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Monkey Knife Fight
Rating / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
PrizePicks
Rating / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.

State Sports Betting Guides

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
August 9, 2022

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
July 8, 2021

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
July 8, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
July 6, 2022

Top Stories

boston

Massachusetts Lawmakers Reach Last-Minute Sports Betting Deal

August 1, 2022
magnifying-glass-paper

Unpacking Massachusetts’ Bill: College Ban, Data Mandate, Extra Fees, And More

August 3, 2022
watson ridley

NFL Punishments For Watson And Ridley Aren’t Equal β€” And They Shouldn’t Be

August 2, 2022
yes-on-27-screenshot

California’s Proposition 27 Launches New Ad Called ‘Shameful’ By Opposition

August 2, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA/MI), 1-800-9-WITH-IT (IN),Β 1-800-522-4700Β (CO), 1-800-BETS OFF (IA),Β 1-888-532-3500Β (VA) or call/text TN REDLINEΒ 1-800-889-9789Β (TN).
19+. Please play responsibly. Terms and conditions apply.Β 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News

Please share your location to continue.

Check our help guide for more info.

share your location