Arizona Posts Higher Betting Handle Than Nevada

Arizona Overtakes Nevada for Sports Betting Handle in April

By Amelia Walker Senior Content Writer Updated: 03 July 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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Mobile Platforms a Key Driver

Operators within the state reported gross revenue of $64.9 million in April, boasting a high 9.9 percent hold rate. This marked a 32.1 percent increase from the same month last year. From this, Arizona accrued $4.3 million in taxes from an adjusted gross revenue of $43.4 million, highlighting the sector’s huge financial contribution to state finances.

Former ESPN writer, Chris Altruda, reported that the state was:

…eligible to levy taxes on $43.4 million in adjusted gross sports betting revenue, resulting in an inflow of $4.3 million into Arizona tax coffers. The $15.5 million in receipts is $3.9 million ahead of last year’s pace through four months as the $155.5 million in year-to-date AGR is up 33.3%.

According to the data, a key driver of Arizona’s success in April was the widespread use of mobile sports betting platforms. Unlike Nevada, which requires bettors to register in person, Arizona allows remote registration. The figures showed that mobile bets accounted for 99 percent of the total sports betting handle.

FanDuel and DraftKings remained at the forefront of the Arizona market in April, dominating both in terms of revenue and total bets placed. FanDuel alone generated nearly $27 million in gross winnings from a handle of $230.3 million, achieving an 11.7 percent hold rate.

DraftKings also performed strongly, earning $19.5 million with a 9.3 percent hold, pushing its total revenue since entering the Arizona market to over $400 million.

Other operators included BetMGM, Bet365, and ESPN BET, with BetMGM achieving an 11.2 percent win rate on a $76.4 million handle.

Challenges in the Sector

Despite the overall success, not all operators experienced profitable outcomes in April. Companies like Betfred, Golden Nugget, and Unibet faced financial losses, with Betfred registering a significant loss by paying out more than its total handle of $3.8 million.

In addition, the difference between mobile and retail betting performance remained noticeable. Retail betting venues reported a modest 1.3 percent win rate from a $6.4 million handle, compared to a stronger 9.8 percent hold rate from mobile platforms totaling $634.3 million.

Arizona’s achievement in surpassing Nevada marks a milestone for the state. Officials believe that it also indicated shifting dynamics within the US sports betting industry. With the huge popularity of mobile betting and strong performance from leading operators, many believe that Arizona is set to maintain its momentum and strengthen its position as a leading market in the sports betting arena.