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This July featured record handle of more than $244.6 million but also that tight win. It’s a mixed bag of results for one of the slower months on the sports calendar.
Nevada sportsbooks posted a $500,000 win last year. That’s pretty much in line with Nevada Gaming Control Board revenue figures from 2014 and 2015.
Between those is the July 2016 outlier of an $11 million win based largely on an abnormally good month for books on baseball. That month also resulted in the previous Nevada record for July handle of $221.5 million.
Both Nevada sports betting revenue and handle increased from a year ago. Like two years ago, casinos can look to baseball to account for their profits.
Nevada books beat the public on Major League Baseball for just less than $3.8 million in July. While the win percentage of just over 2 percent looks slim, it represents double the win from July 2017 for casinos. Bettors wagered just more than $173 million on baseball in July, a slight dip from last year.
July is when NBA basketball futures come home to roost every year. When they do, the books are sure to feel the pain and this year is no different.
The inevitable Golden State Warriors victory over the Cleveland Cavaliers led to a loss of more than $3 million for Nevada books. To lose that amount when the Warriors registered as a prohibitive favorite since last summer shows how much action books took on Golden State.
Gridiron betting devotees find little to feed their needs in July. If you want action, you need to bone up on the Canadian Football League or the Arena Football League.
Judging by the July results, more research is in order.
Sportsbooks posted a gaudy win of 15.6 percent on CFL and AFL action. That equates to $418,000 in revenue on more than $2.6 million in handle. Yes, people bet that much on football games with rouges and padded boards.
The “other” category that captures tennis, golf, hockey, auto racing and more nearly offset the basketball loss with more than $2.9 million in win. Total handle in this category checked in at more than $52.4 million.
Looking forward, August also promises to be a slow month for Nevada sports betting. With college football, NFL, and the Canelo-GGG rematch on tap for September, a strong month can be expected.