Colorado and Arizona both reported declines in sports betting handle for March. Despite the drops, revenue remained strong as sportsbook hold increased.
Arizona saw residents wager a total of $836.9 million on sports in the month, down from $887 million last year, a 5.7% decrease, as reported by the state’s Division of Gaming. Hold, however, compensated for the decrease in handle, showcasing the resilience of the sports betting market in the two states.
Colorado also faced a similar trend, with a decrease in sports betting handle but a notable increase in the hold percentage. These results indicate a robust performance in the sports betting sector, emphasizing the significance of strong hold rates in mitigating the impact of handle fluctuations.
