As sports betting revenue reports for April 2024 come in from states throughout the country, we will round up the latest happenings and add context to the numbers.
AZ sports betting handle, revenue show year-over-year growth in April
Arizona sports betting handle jumped 22.5% in April. Bettors staked $656.3 million in April this year, compared to $535.7 million during the same month last year.
According to the latest state report, winnings for AZ sportsbooks also spiked 31% as operators cleared $64.5 million in April revenue before deductions. Last April, operators kept $49.2 million from players.
FanDuel led all AZ sports betting apps with $230.3 million in handle. Combined with $209.8 million in online bets for DraftKings, the two market leaders handled more than 67% of all betting dollars.
ESPN Bet accepted $21.6 million in online bets in April, good for 3% market share.
Nevada sports betting handle dips again in April
Nevada sportsbooks experienced a year-over-year decline in April betting.
It is the sixth time in the last eight months NV sports betting handle failed to keep up with the same month during the prior year. The latest report from the Nevada Gaming Control Board shows bettors staked $569.3 million in April, down from $598 million in April 2023.
Nevada was one of three US sports betting markets to post an annual handle decline in April. The other two were New Hampshire and West Virginia.
Sportsbooks cleared $30.8 million in April revenue, down 5% from last April when they won $32.4 million from bettors.
Colorado sports betting revenue dips in April despite handle streak
Colorado sportsbooks posted a 6.3% win rate in April, leading to $32 million in monthly revenue.
It is a 9% drop year-over-year after operators won $35.1 million from bettors in April 2023.
The latest Colorado sports betting report shows handle continued its run of $500 million months. Bettors staked $509.5 million in April, marking the eighth consecutive month they have wagered more than half a billion dollars.
Customers bet 22% more in April this year compared to April 2023, when they staked $417.8 million.
CO sportsbooks lost money on college basketball bets in April. They paid out $9.1 million after taking $8.5 million in bets.
Ohio sports betting market reaches milestone with boost in April handle
Ohio sportsbooks handled $667 million in April, pushing the market past $10.5 billion in all-time bets.
The OH sports betting market is 16 months old, having launched in January 2023.
According to the latest state revenue report, FanDuel and DraftKings each accepted more than $215 million in April online bets. Bet365 was the third-most popular betting app in April. It took in $46.5 million in bets, earning a 7% share of the online market.
No other OH sports betting app handled more than $45 million during the month.
FanDuel cleared $34 million in revenue, while DraftKings won $20.8 million from bettors. Combined, the market generated $72.8 million in online revenue.
FanDuel boosts DC sports betting in first 30 days
The first 30 days of DC sports betting operations for FanDuel provided an immediate turnaround for the market.
According to a Tuesday press release from the DC Lottery, FanDuel accepted nearly $30 million in bets between April 15 and May 14. FanDuel generated $5 million in revenue from those bets.
The release touted the growth in DC sports betting, with FanDuel contributing a 673% increase in handle and an 887% increase in revenue compared to April 2023.
The prior online sportsbook in DC, GambetDC, launched in May 2020, was largely unpopular and offered uncompetitive betting lines.
A bill was introduced in April that, if passed, would allow for up to seven online skins making the DC sports betting market more competitive.
Michigan sports betting sees bump in April handle, revenue
Michigan sportsbooks posted year-over-year increases in April handle and revenue.
The $414.4 million bet through MI sports betting operators was up 23% from the $338.1 million staked in April 2023. On the revenue side, operators won 20% more, clearing $43.4 million this April compared to $36.3 million during the same month last year.
FanDuel led all MI sports betting apps with $153.4 million in April bets, accounting for more than 38% of the $399.1 million in total online volume. With $20.4 million in April winnings, FanDuel cleared nearly twice as much online revenue as any other app.
According to Michigan Gaming Control Board data, DraftKings and BetMGM were the next two most popular apps, with $106.3 million and $58.1 million in handle, respectively.
April sees NC sports betting customers bet more as promos drop
NC sports betting customers bet more real money in April, wagering $569.3 million during the market’s first complete month of operations.
According to the latest data from the North Carolina State Lottery Commission, it was a nearly 25% increase over the $456.7 million they staked during the initial three weeks of legal sports betting in March.
With nearly $80 million in bonus bets from NC sports betting apps and more than $5 million in voided wagers, total handle approached $643.7 million for the month. Operators offered $202.6 million in promos after launching in March.
Operators posted a 16.4% win rate, clearing $105.3 million in April revenue. The state collected a $15.8 million tax payment from NC sportsbooks, which cannot deduct promotional spending from their taxable revenue.
Louisiana sports betting apps post annual handle, revenue gains in April
More than $263.2 million was bet through Louisiana sports betting apps in April.
According to state data released this week, it was a 38.5% increase over the $190.7 million bet during the same month last year.
Parlays proved profitable again for LA sportsbooks, clearing $26.9 million off the combo bets. Parlays accounted for 76% of the $35.1 million marketwide revenue total. Operator winnings were up 73% compared to April 2023, when apps produced $20.3 million.
Sportsbooks posted a 13.4% online win rate, the highest collective hold since Louisiana sports betting apps held nearly 15% in December 2023.
FanDuel earns bulk of PA sports betting revenue in April
FanDuel won $32.4 million from its PA sports betting customers in April, good for 55% of marketwide revenue.
The latest data from the Pennsylvania Gaming Control Board shows bettors staked $272.3 million with FanDuel, which posted a near 12% hold.
The total PA sports betting handle approached $646.1 million in April, up nearly 13% from the same month last year.
ESPN Bet posted a 9% win rate in April, clearing $3.8 million in revenue from $41.6 million in bets.
BetRivers accepted $26.7 million in April bets between its app and retail location in Pittsburgh. The total put BetRivers in the top 5 among all PA sportsbooks for the month.
All-time NJ sports betting handle tops $50B
NJ sportsbooks accepted $1.04 billion in April bets, pushing New Jersey‘s lifetime sports betting handle past $50 billion.
According to the latest state report, April marked the eighth consecutive month Garden State bettors have staked more than $1 billion.
PointsBet backed up its $20.1 million in March revenue with another $32.9 million in April winnings. April marked the final complete month for PointsBet in the NJ sports betting market as it transitioned over to Fanatics Sportsbook in early May.
FanDuel led all online NJ sportsbooks with $37.9 million in April revenue. ESPN Bet earned $2.1 million, or 2%, of marketwide revenue, which topped $106.2 million for the month.
FanDuel tops all MA sports betting apps with double-digit hold in April
FanDuel generated $20.1 million in April revenue behind a win rate north of 11%, no other MA sports betting app held more than 8%.
The FanDuel Sportsbook app took in $176.3 million in bets, good for nearly 30% of the online market. DraftKings claimed more than 50% of handle, with $304.1 million in April volume.
According to the latest Massachusetts Gaming Commission report, DraftKings posted an 8% win rate and cleared $24.5 million in revenue.
ESPN Bet saw less than 5% of monthly betting volume come through its app with $27.9 million in handle.
The six online MA sportsbooks combined for $591.5 million in handle and $50.8 million in monthly revenue.
Vermont collects highest weekly sports betting tax payment since February
The three Vermont sports betting apps won nearly $1.7 million in April and sent close to $532,500 back to the state in monthly taxes.
Vermont Department of Liquor and Lottery commissioner Wendy Knight told LSR on Friday that FanDuel, DraftKings, and Fanatics combined for a $137,000 weekly tax payment between April 4 and April 10.
Knight said it was the highest weekly payment for the state since late February. That week featured the Final Four and an influx of tourists visiting the state to see the solar eclipse.
Total betting approached $17.1 million for the month, according to figures from state regulators. There were 40,876 active VT sports betting players during month. They made 737,903 bets in April, risking $23.15 on average.
BetMGM on pace for biggest baseball betting season ever
BetMGM has seen a 209% increase in home run bets placed during the first month of MLB betting. CEO Adam Greenblatt credits Angstrom, the sports pricing and analytics company, for the increase.
In a Tuesday press release, Greenblatt said, “We’re setting the stage for the biggest baseball season for BetMGM to date,” adding, “The integration of enhanced data analytics from Angstrom has fueled the evolution of the BetMGM app into a best-in-class product.”
The BetMGM baseball betting menu features several different home run markets including, first player to hit a homer, longest home run, and if there will be a grand slam.
According to the release, the integration with Angstrom has enhanced the parlay offering for MLB betting, as well as a new at-bat live betting feature.
Indiana sports betting shows annual growth in April
Indiana sports betting handle returned to 2022 levels in April as bettors staked $393.9 million during the month.
IN sportsbooks experienced declines in betting as neighbors Ohio and Kentucky entered the US sports betting market in 2023.
- April 2023: $321.4 million
- April 2022: $360 million
- April 2021: $236.4 million
The latest state report showed sportsbooks in Indiana combined for $37.1 million in taxable revenue for the month. It marked a 27% increase over the $29.3 million operators won in April last year.
FanDuel led all IN sports betting apps with $15.8 million in revenue, while DraftKings was the most popular sportsbook to play with as it handled $144.2 million in monthly bets.
NY sports betting begins fiscal year with big number
NY sports betting apps kicked off the new fiscal year with $1.96 billion in April handle.
It marked the fourth-highest monthly total since the online NY sports betting market launched in January 2022. The total was also a noticeable boost over the $1.55 billion bet in April 2023.
FanDuel and its $780.5 million monthly handle claimed a 40% market share. It also earned the most monthly revenue, clearing $91 million.
The latest New York State Gaming Commission report shows NY sportsbooks combined for $183.8 million in online revenue. They sent a $46.4 million April tax payment to Albany.
FanDuel increases Maryland sports betting promotional spend in April
Maryland sports betting apps combined to offer $11.1 million in April bonuses, with the bulk of that total coming from FanDuel.
According to the latest state report released on Friday, FanDuel offered its MD sports betting customers $8.6 million in free play during the month. It is the highest promotional spend from FanDuel in Maryland since it dished out $12.7 million in January.
The increased promotional spending led to $221.1 million in April online handle for FanDuel, and $21.7 million in revenue, the most for any MD sportsbook during the month.
All Maryland sports betting operators combined for $486.3 million in April handle, a 48% boost from the $328.4 million staked in April 2023.
