Arizona reported year-on-year growth across revenue and handle in March. However, Rhode Island saw revenue slip to an eight-month low in April.
Starting with Arizona, which reports its monthly results at a delayed rate compared to other states. All other US states are currently publishing results for April, whereas Arizona has just released an update for March.
During March, player spending amounted to $759.8m (£595.7m/€700.3m). This is 17.8% up from $644.8m in the same month last year. It is also 19.2% ahead of $637.5m in February of this year.
Players wagered a total of $752.4m online and $5.3m at retail sportsbooks. A further $2.1m was bet through limited event wagering (LEW) operators in Arizona.
In terms of revenue, gross event wagering before the impact of free bets hit $57.5m. After deducting $19.5m in free bets, this left $38.0m in adjusted revenue, up 2.4% year-on-year and 35.7% ahead of February’s $28.0m.
Of this total, $37.2m of all adjusted revenue came from online wagering. Retail contributed just $690,469 to the total, with LEW’s share at $117,277.
Arizona generated $3.7m in tax from sports betting in March while players won $700.5m.
FanDuel retains the lead in Arizona
Looking at individual operators, Flutter Entertainment-owned FanDuel remains the leader in the Arizona online market. During March, it posted $23.7m in revenue from $265.1m in wagers.
DraftKings placed second with $18.1m in online revenue off a $255.3m handle. BetMGM followed in third with $7.4m in revenue from $94.0m in total bets.
As for the retail market, DraftKings took top spot with $1.9m in revenue, ahead of FanDuel on $1.9m, DraftKings processed $2.2m in retail wagers, compared to FanDuel on $1.8m.
Finally, in terms of LEW operators, TP Racing (Surf Paradise), was the clear winner, posting $1.1m in revenue. This accounts for more than half the LEW revenue total in March.
Rhode Island revenue down despite handle holding steady
Turning now to Rhode Island, total player spending on sports betting in April hit $37.7m. This is marginally higher than $35.5m in the same month last year but 16.0% behind $44.9m in March this year.
Players spent $31.4m betting online during the month as well as $6.3m at retail sportsbooks. The retail figure is split across two locations in Rhode Island: Twin River ($4.6m) and Tiverton Casino ($1.7m).
As for revenue, the monthly total in the state hit $2.7m. This is 10.0% behind $3.0m last year and 12.9% less than $3.1m in March.
Online betting accounted for just under $2.6m of this total, with $171,658 coming from the retail market. Twin River generated $76,942 in retail revenue, with Tiverton Casino at $94,716.
Players won $35.0m from sports betting in April, including $28.8m online.
Year-to-date handle nears $400.0m
Looking at Rhode Island in the year to date, total player spend for the 10 months to the end of April is $388.6m. This comprises $309.5m in online bets and $79.0m from retail wagering, including $52.0m from Twin River and $27.0m from Tiverton Casino.
As for revenue, this amounted to $32.6m in the same period. Of this, $26.5m came from the online sector and $6.1m retail (Twin River $3.9m and Tiverton Casino $2.2m).
In terms of player winnings, bettors in Rhode Island took away $356.0m from sports betting in the 10-month period.
Consumers in Rhode Island are now also able to access igaming after the state’s legal market opened in March.
Bally’s customers can play slots and table games via desktop or iOS mobile app. Games are available to players who are at least 21 and have an online or mobile account with Bally’s.
Original article: https://igamingbusiness.com/sports-betting/arizona-grows-in-march-rhode-island-april-revenue-dips/
