Nevada sports betting stayed relatively stable from previous months in May.
Nevada sportsbooks handled $562 million in bets during May, according to a Nevada Gaming Control Board report released Thursday. The total is just a 3.5% decrease from the $582.5 million bet during April.
April was the first month since August 2021 to dip below a $700 million handle. Despite the two-month slide, May’s handle grew 17.8% year-over-year compared to May 2021.
Nevada also is weathering the beginning of the summer season well. US sports betting markets were down an average 10.8% in May compared to April, according to 20 reporting jurisdictions.
Nevada sports betting revenue stays even
Nevada sportsbooks held 4.8%, generating nearly $27 million in sports betting revenue during May. That is a 6.4% increase from April’s $25.4 million in sports betting revenue from a 4.4% hold that month.
Mobile sports betting accounted for 67.7% of the overall handle, or $397.8 million. That figure represents strong growth in online adoption in the past few years.
Those online wagers led to $16.4 million in revenue, or 60.7% of the overall revenue. The state collected $1.8 million in May taxes.
Baseball leads the way in Nevada
As the Oakland Athletics keep the Las Vegas community waiting on whether an MLB team might be in its future, Nevada bettors do not seem disenchanted with baseball.
There was nearly $245 million bet on baseball in May, the most among all sports. Sportsbooks held 4.9% on the sport for $12.1 million in revenue.
Baseball bets were up 30.5% month-over-month compared to April’s $187.7 million.
Basketball slips as season finishes
Basketball betting dwindled as the NBA season closed in on its finale. Sportsbooks took $178.4 million in basketball bets, generating $9.6 million in revenue on a 5.4% hold.
Basketball wagers were down 27.8%, as sportsbooks handled $247.1 million in basketball bets during April.
Hockey handle still managed to grow year-over-year despite the Vegas Golden Knights missing the playoffs. There was $59.6 million bet on hockey for the month, up 14% over the $52.3 million bet last May as the Knights made their way to an eventual loss in the Stanley Cup Semifinals.
