April 2024 US Sports Betting Handle And Revenue Roundup

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sports betting revenue

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.

33 days ago
by James Gazzale

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.

45 days ago
by James Gazzale

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.

45 days ago
by James Gazzale

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.

46 days ago
by James Gazzale

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.

59 days ago
by James Gazzale

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.

60 days ago
by James Gazzale

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.

60 days ago
by James Gazzale

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 free 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.

60 days ago
by James Gazzale

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.

61 days ago
by James Gazzale

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.

61 days ago
by James Gazzale

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.

Photo by AP/Matt Slocum