Fanatics makes April debut in Arizona as state reports $656M handle

Arizona Department Gaming Sports Betting April
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Arizona’s sports betting market is continuing to report growth as the state undergoes changes to its catalog of licensed operators.

According to data provided by the Arizona Department of Gaming, bettors in the Grand Canyon State wagered roughly $656.3 million in April, a 22.5% increase compared to the same month last year. The results were down from a $759.8 million handle in March when bettors flocked to wager on the men’s and women’s NCAA basketball tournaments.

Arizona’s year-over-year growth in April was spearheaded by FanDuel, which reported a $230.3 million mobile handle. By comparison, the Flutter Entertainment-owned brand posted a $212.9 million handle in April 2023. FanDuel paid out $203.3 million in winnings to players in April 2024 with adjusted gross revenue for the month reaching $26.4 million.

DraftKings closed with the second-highest mobile handle in April with $209.8 million bets accepted. The Boston-based fantasy and sports betting giant generated $19 million in adjusted gross revenue during the month after paying out $190.2 million to players.

BetMGM closed third in Arizona for mobile handle at $76.4 million with the operator’s adjusted gross revenue at $8.3 million. In April 2023, the Entain and MGM Resorts joint venture posted a $72.3 million handle and $7.4 million in adjusted gross revenue.

Emerging Arizona operators ESPN Bet and bet365 also reported favorable results.

In April, ESPN Bet posted a $21.5 million handle and $1.8 million in adjusted gross revenue. ESPN Bet showcased a commitment to acquire customers in April with $1.2 million in promo play.

Meanwhile, bet365 reported a $30.1 million handle and $1.8 million in adjusted gross revenue. The British operator went live in Arizona in February through a pact with the Ak-Chin Indian Community. Its promo play and free bets taken in April were $1.2 million.

Fanatics makes Arizona debut

April marked the first month for Fanatics Sportsbook in the Grand Canyon State.

The operator went live on April 4 through a deal with the Tonto Apache Tribe. Fanatics has entered Arizona’s gaming market following its $225 million acquisition of PointsBet’s U.S. business. PointsBet had yet to secure market access in Arizona before the takeover.

Fanatics reported a $15.6 million mobile handle in April with winnings paid to players closing at $14.1 million. Fanatics generated $1.4 million in adjusted gross revenue during the month but the operator’s free bets and promo credits closed at the same figure.

Collectively, Arizona sportsbooks combined for $62.9 million in adjusted gross revenue in April from mobile wagering. The ADG reported a total of $19.9 million in free bets and promotional credits during the month with FanDuel leading all operators at $6.4 million.

DraftKings dished out $5.5 million in promo play with ESPN Bet closing at $1.2 million.

Arizona collected approximately $4.3 million in privilege fees in April from its licensed sports betting operators. In April 2023, the Grand Canyon State saw privilege fees reach roughly $3.4 million.

New wagering licenses in Arizona

Last week, the ADG announced the opening of its licensing application process for at least one event wagering license reserved for Arizona tribes and at least one for state sports teams. The ADG will accept applications between July 8 and July 19 with an application fee set a $100,000. If awarded a license, an operator must pay a $750,000 initial license fee.

Licensed sportsbooks are then required to dish out $150,000 for annual license renewals.

The ADG allows up to 20 event wagering licenses with 17 slots currently filled. Arizona has seen WynnBET, Fubo Sportsbook, TwinSpires, and Unibet exit the market. Those licenses were then filled by the likes of Fanatics and bet365.