If you are learning how to be a bookie, studying the trends in betting may be a bit confusing, especially in the recent months. In March, most sportsbooks reported higher handles and revenues. And in April? It depends on the market. But Arizona sports betting see a decline in sports betting for the month of April.
According to the Arizona Department of Gaming (ADG), the sportsbooks in the state took in $535.7 million in bets. While half a billion seems like such a great number for those starting out in the bookie PPH business, it is actually 16.8% lower than Arizona’s handle back in March.
Arizona Sports Betting Market Still Does Well
When you own an online sportsbook through a pay per head service, you will gain familiarity with the concept of the hold percentage, which is the percentage that sportsbooks get to keep for every dollar wagered. The hold percentage is a good indicator of a good month for revenue. Which is exactly what is happening with sportsbooks in Arizona.
Sportsbooks have a 8.9% hold percentage, which is higher than March’s 8.3%. As you can see, the hold percentage is actually inversely related to the handle. After expenses on promotions are deducted, sportsbooks have an adjusted gross revenue of $34.3 million. It’s a little less compared to March’s $37.1 million, but a lot more than expected given the decrease in handle.
But even though the state is reporting a slower season, the numbers are still better than that of the same period in 2022. A 4.5% increase in handle year-on-year tells us that the market still continues to grow. And for those interested in online sports betting in the state, online sportsbooks still take in the most wagers. In fact, almost 99% of all wagers placed in the state during April are from online sportsbooks.
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