Arizona Records Impressive Betting Numbers in April
The Arizona Department of Gaming recently published its wagering report for April, revealing a year-on-year growth in the state's sports betting market.
Fanatics reported $1.4 million in AGR in its first month of wagering in Arizona.
LISTEN TO THIS ARTICLE:During the month, the state's sports betting handle amounted to $656.3 million, a 22.5% increase from the same month in 2023. However, the numbers fell short of the $759.8 million wagered in March, when there was a significant increase in betting activity due to the men's and women's NCAA basketball tournaments.
Operators in the state collectively reported $62.9 million in adjusted gross revenue from mobile wagering in April. They also awarded $19.9 million in free bets and promotional credits during the month.
FanDuel Drives Arizona Year-on-Year Growth
Regarding individual operators' performance, FanDuel led Canyon State's betting market with $230.3 million in handle. The figure marked a notable increase from the $212.9 million recorded in the same month in 2023. From the total, the operator paid out $203.3 million in winnings and earned $26.4 million in adjusted gross revenue.
DraftKings ended the month with total accepted bets of $209.8 million, the second-highest in the state. It distributed $190.2 million in winnings to players and generated an adjusted gross revenue of $19 million.
BetMGM achieved third place with $76.4 million in handle and $8.3 million in adjusted gross revenue. By comparison, the operator reported a handle of $72.3 million and an AGR of $7.4 million in 2023.
ESPN Bet also saw an increase in handle and adjusted gross revenue at $21.5 million and $1.8 million, respectively. Likewise, Bet365 posted $1.8 million in adjusted gross revenue despite having a higher handle of $30.1 million.
April marks the first month of wagering for Fanatics in Arizona. The operator launched in the Grand Canyon State on April 4 via an agreement with the Tonto Apache Tribe. Its handle for the month reached $15.6 million, while it generated $1.4 million in adjusted gross revenue.
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ADG Opens Licensing Application Process
The Arizona sports wagering market may see an influx of fresh sportsbooks soon as the ADG has reopened the licensing application for new operators. In its announcement last week, the ADG stated that it will begin the process for gaming operators to apply for a license on July 8 and will close on July 19.
Seventeen sportsbooks currently operate in Arizona; however, its gambling legalization allows for up to 20 event licenses for sports betting operators. In recent times, operators like WynnBet, TwinSpires, and Unibet have exited the market, paving the way for new entrants like bet365 and Fanatics.
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