It’s the end of the month, which normally brings a monthly breakdown of Nevada sports betting handle and revenue.
Not this month, it appears.
Nevada casinos were closed during April due to the coronavirus pandemic. That means all the Nevada Gaming Control Board (NGCB) could report was revenue for online poker and online sports betting.
Those two combined accounted for just $3.6 million in revenue during April. But we do not know what the exact split was, nor April’s sports betting handle.
According to a spokesperson, state statute requires the NGCB not to provide information on any individual operator. While there are two licensed online poker operators – World Series of Poker and RealGaming through South Point – only WSOP reported activity.
Since WSOP’s revenue could be figured out by subtracting online sports betting revenue from the total, regulators redacted both segments.
Nevada sports betting figures should be available in the three-month report for June released in July, said Michael Lawton, the senior research analyst of the NGCB.
Changes to Nevada sports betting funding coming?
Online sports betting in Nevada could become more user-friendly if certain regulations are amended next month. But its biggest problem would likely remain.
The Nevada Gaming Commission will meet June 25 to discuss removing restrictions on electronic transfers of money to a game or gaming device. That includes from a bank account or debit instrument.
These changes would allow anyone with a mobile Nevada sportsbook account to add funds directly from their bank account. The long-awaited move appears linked to the struggles of Nevada sportsbooks during the pandemic.
The draft changes should be available within the next week. But based on the announcement, there don’t appear to be any changes that would end in-person registration. Bettors would still initially need to visit a casino to open a mobile betting account.
In-person registration is limited solely to online sports betting in the state. Online poker account sign-up and funding can all be completed online.
Current mobile sports betting funding options
Right now, Nevada’s mobile sports betting customers mostly have to visit a retail location in order to fund their sportsbook accounts.
This requirement isn’t convenient for anyone. Mobile bettors want the option to fund their accounts from wherever they choose to bet; otherwise, they’d be at the sportsbook in the first place. Most sportsbook operators want their customers to have that option as well.
Some sportsbook apps, like Boyd‘s B-Connected or Station Casinos‘ STN Sports, utilize the Play+ service. The third-party service allows bettors to add funds onto the Play+ card. Players can then use the card to fund their mobile sports betting account.
Others like William Hill utilize PayNearMe, which lets bettors fund their accounts at CVS and 7-Eleven stores throughout the state.
In-person registration limits market
Nevada’s reign as the top sports betting state could come to an end without modernization. Other states, like New Jersey and Pennsylvania, are ramping up their markets quickly.
Both PA and NJ see nearly 90% of the handle coming from mobile. Before the coronavirus pandemic shut down casinos, Nevada had just 45% mobile market share in February.
Both of those also have an obvious advantage: remote sports betting registration.
Mobile registration could be more important than ever with capacity restrictions at casinos. Others are simply not interested in returning to casinos right now until there’s more clarity around the coronavirus pandemic.
The casino shutdown also led to an interesting problem for Nevada’s sportsbooks that chose to continue operating. Both William Hill, South Point and Circa Sports at Golden Gate held drive-through sign-up and deposits with casinos shuttered.