License: Pexels, Free to use, Author: ArtTower
The sports betting handle in Arizona experienced a month-on-month decline in April, although it showed a year-on-year increase with players wagering $535.7 million.
The monthly handle was 4.5% higher than the $512.9 million wagered in April 2022, but it marked a 16.9% decrease from the $644.8 million wagered in March 2023.
Out of the total handle, $531.2 million was spent on online sports betting, while only $3.7 million was wagered at retail sportsbooks throughout the state.
Players received $486.5 million in winnings from their bets, resulting in $48.0 million in adjusted gross event wagering revenue before accounting for free bets. This revenue figure represents a 64.4% increase compared to $29.2 million from the previous year, but it was 10.1% lower than the $53.4 million recorded in March 2023.