Taking a look at the most recent monthly US State results, iGB analyzes the growth of the Arizona Sports Betting Market in March. Rhode Island saw a decrease in revenues despite a steady level of spending during the month.
Arizona saw revenue and handling grow by year on year in March. Rhode Island, however, saw its revenue fall to an 8-month low.
Arizona is the first state to report its results, and it does so at a slower rate than other states. Arizona is the only state that has not yet published its results for April.
During March, player spending amounted to $759.8m (PS595.7m/EUR700.3m). It is a 17.8% increase from the $644.8m spent in March last year. This is also 19.2% more than the $637.5m of February this year.
The total wagering was $752.4m on the internet and $5.3m in retail sportsbooks. Another $2.1m in wagers was placed through Limited Event Wagering operators (LEWs) in Arizona.
Gross event wagering, before free bets were included, reached $57.5m in terms of revenue. After subtracting $19.5m of free bets from the adjusted revenue this is $38.0m, which represents a 2.4% increase year-over-year, and a 35.7% improvement over February’s $28.0m.
Online wagering accounted for $37.2m (or a total of $117,269) of the adjusted revenues. Retail only contributed $690 469 of the total. LEW had a share of $117 277.
Arizona taxed sports bettors $3.7m while winning $700.5m.
FanDuel maintains its lead in Arizona
FanDuel, owned by Flutter Entertainment, is the market leader for Arizona’s online gambling. In March it reported $23.7m of revenue on $265.1m wagers.
DraftKings was second, with $18.1m online revenue from a handle of $255.3m. BetMGM was third, with revenue of $7.4m from $94.0m total wagers.
DraftKings topped the list of retail bettors with $2.2m. FanDuel was second on $1.8m.
TP Racing Surf Paradise was the winner in terms of LEW operator revenue, with $1.1m. More than half of the LEW total revenue in March was generated by TP Racing (Surf Paradise).
Rhode Island revenues down, despite handling holding steady
In Rhode Island the total amount of money spent by players on betting sports in April was $37,7m. It is slightly higher than the $35.5m spent in April last year, but still 16.0% below $44.9m from March of this year.
In the last month, players spent over $31.4 million on online betting and $6.3 in retail sportsbooks. Retail figures are split between two Rhode Island locations: Twin River (4.6m) ($1.7m), and Tiverton Casino (4.61m).
The state’s monthly revenue totaled $2.7m. It is a 10.0% drop from $3.0m the previous year, and a 12.9% decrease from $3.1m.
Retail betting generated $171 658 of the total. Retail revenue at Twin River was $76,942, while Tiverton casino generated $94,716.
In April, players won $35.0m in sports bets including $28.8m on the internet.
The total amount handled in the first half of this year is close to $400m
In Rhode Island, the total amount spent by players in the last 10 months up to April was $388.6m. The total wagering in Rhode Island for the year to date is $388.6m. This includes $309.5m of online betting and $79.0m retail wagering.
In terms of revenue, it was $32.6m for the same time period. This included $26.5m from online and $6.1m in retail sales (Twin River $3.9m, and Tiverton $2.2m).
Bettors in Rhode Island won $356.0m in sports betting over a 10-month period.
Rhode Island consumers can now access online gaming after a legal market was opened by the state in March.
Customers of Bally’s can access the iOS app or desktop version to play slot machines and table games. Players who have a Bally’s account and are 21 years old can play the games.
