In the latest betting and sports news, we are taking a look at the Nevada sportsbook market, which is reporting decreased revenue from year-over-year revenue figures. According to the Nevada Gaming Control Board, the total revenue for the month of June is at $9.5 million. This is less than June 2022’s revenue by around $14.3 million. Revenue is less due to a lower betting handle and hold.
June is typically one of those months where sportsbooks report less betting activity since there are less local events to bet on. Popular leagues like the NBA and the NFL are in the offseason, and there are no college sports tournaments as well. However, it does not drop down to zero or get negative numbers. Remember, with a good sportsbook software, you will be able to offer international sports events to your players, so there are always a lot of betting options available.
Nevada Sportsbook Market Numbers in June
The hold for this month is a mere 1.9%. This could be due to local team’s betting activity, which is quite common. In the case of Nevada, the Las Vegas Golden Knights in the Stanley Cup gave sportsbook operators a whopping 60% month on month drop in numbers. The total sports betting handle for June is at $479 million, so it is still quite a generous number, compared with other betting markets. However, the handle is still 2.3% less than June 2022, and 9% lower than May of this year.
But if you are putting up a sportsbook, do not fret. Because despite the numbers, Nevada is one of only four states in the country to see over $4 billion in sports betting handle year-to-date. The other three are New York, New Jersey, and Illinois. Do not hold back in signing up with the best Price Per Head Sportsbook as revenue is still good, even for Nevada. In fact, the Nevada state has over $1 billion in tax collections for this year alone.
And as always, online sports betting still remains to be the more popular option for bettors. For Nevada sportsbooks in June, for example, retail sportsbooks have a $156 million handle. Online sportsbooks, meanwhile, have a handle of $324 million. Revenue is also higher than that of retail betting at $4.8 million, but only by around $200,000.