Nevada Sports Betting Springs Forward With April Gains

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Nevada sports betting

Nevada sports betting handle topped $598 million in April, a 3% increase over the same month last year ($582.5 million..

Revenue and hold for NV sports betting increased year-over-year as well. Sportsbooks posted $32.5 million in April revenue, according to figures released this week by the Nevada Gaming Control Board. It is a 28% increase over April 2022 ($25.3 million.)

Nevada sports betting operators held more than 5% in April, another increase over the same month last year when sportsbooks won 4.4%. The Silver State received more than $2 million in sports betting taxes.

Decline trend ends for Nevada sports betting

The year-over-year bump in April handle ends the state’s declining monthly handle trend. The year-over-year handle had dropped for eight consecutive months.

However, revenue increased by more than 17% in the year’s first four months. The $168 million in revenue to start 2023 is the highest total in the first four months of any year in Nevada history. The previous high-water mark for revenue was $151 million in the first four months of 2021.

The increased revenue led to more sports betting taxes for Nevada. Through April, the state received $11.2 million in tax revenue, a 16% increase over the $9.6 million in taxes collected during the first four months of 2022.

Baseball, hockey see increased handle

Nevada sportsbooks handled $224 million in April baseball betting, the first complete month of the Major League Baseball season.

Baseball outpaced basketball betting last month in the absence of March Madness betting. Nevada sportsbooks took in $216.3 million in April basketball bets, down from $501.4 million in March.

The Stanley Cup Playoffs helped hockey betting increase by $4.5 million compared to March. Hockey betting topped out at $66.7 million in April.

Mobile sports betting handle was more than $395 million in April.