Nevada Sports Betting Weathers Slow NBA Finals To Post Solid June Revenue

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Nevada sports betting handle experienced a second consecutive June decline, but casinos increased their win from last year.

Figures released Tuesday by the Nevada Gaming Control Board show Nevada casinos posting strong numbers for baseball betting. They suffered losses on both basketball and football, though, as winning futures tickets came in.

Nevada operators posted revenue of about $20.2 million for June. The total handle for the month came in at more than $286.5 million. The win bumps up from $15.4 million last year even as handle drops from $294.1 million. The books took $300 million in action in June 2016.

Baseball numbers down but still strong

Sportsbooks could not possibly fare better on baseball betting than they did last June. Bettors shattered a Nevada sports betting record, as books posted a win of $14.9 million and total betting topping $207 million. That represented a high-water mark not just for June, but for any month of MLB wagering.

The June win on baseball fell to $11.6 million this year, a steep drop for 2017. In historical context, however, that win gave Nevada sportsbooks just their fifth month ever over $10 million on MLB games.

The books held 6.35 percent on baseball wagers for the month.

Warriors not golden for Nevada sports betting

Bettors apparently do not find the dominance of Golden State any more intriguing than casual NBA fans do.

Golden State again removed all drama from the NBA Finals by dominating Cleveland in a sweep. Not only did the Warriors help drive LeBron James out of Ohio, but they forced some money out of Nevada sportsbooks as well.

Books lost more than $600,000 on basketball betting in June, taking just $32 million of action. That’s an alarming fall from $56 million in handle last year and $64 million in 2016. The latter year featured a seven-game series, while only three NBA Finals games fell in June this year.

Eagles still taking a toll on books

Hibernating NFL futures bettors awoke in time to hand Nevada sportsbooks another loss in June. Football posted a $280,000 loss four months after Philadelphia defeated New England in the Super Bowl.

Total football handle checked in at more than $1.15 million as books posted early lines on college football games.

Other sports including golf, tennis, and World Cup soccer drew nearly $64 million in wagers and books posted a win of $7.77 million. Following a strangely soft May for parlays, books returned to a strong win in June. Casinos held more than 26 percent on about $6.2 million in parlay bets for a win of $1.6 million.