June Nevada Sports Betting Figures Highlight Dip In Mature Markets

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Nevada sports betting

In June, Nevada sports betting handle dipped below $500 million for the first time since August 2021.

Nevada sportsbooks took $490.4 million in bets during the month of June, according to a Nevada Gaming Control Board report released Thursday. That is the lowest total since August 2021, when operators took $427.4 million in wagers.

The June handle is a 12.6% dip from May and a 10.1% decline from June 2021. Nevada’s all-time sports betting handle record is $1.1 billion in January.

Mature sports betting markets slowing down

Along with Nevada, New Jersey and Pennsylvania also experienced a year-over-year June drop after hitting all-time highs this winter. Those are three of the largest and most mature markets in US sports betting.

Some of the decline can likely be attributed to an extended post-pandemic sports schedule in the summer of 2021. The slumps, however, come as newer markets continue to see significant year-over-year growth.

The launches of Arizona and online New York sports betting could also play a part in the dips. Pennsylvania could also see more drop-off once Ohio sports betting launches in January.

StateJune 2021 HandleJune 2022 HandleChange
New Jersey$766.9 million$633.2 million-17.4%
Nevada$544.8 million$490.4 million-10.1%
Pennsylvania$420.2 million$393.5 million-6.4%

Nevada revenue stays put

Nevada operators generated $23.8 million in sports betting revenue, good for a 4.9% hold. That is in line with the 4.8% hold sportsbooks turned in during May for nearly $27 million in revenue.

It was the seventh straight month below a 5% hold. The last time above 5% was November 2021’s 6.6% which resulted in the all-time high of nearly $72 million in revenue.

The state collected $1.6 million in taxes in June.

Nevada sports betting by sport

Baseball wagers accounted for $15.5 million of the revenue on $294.8 million in bets, a 5.3% hold. Those baseball bets accounted for 60.1% of the overall handle.

Nevada sportsbooks held 14.5% on hockey, generating $5.2 million in revenue on $25.8 million in wagers.

Basketball drew $88 million in bets, but sportsbooks held just 3.5% for $3.1 million in revenue.

Online bets climbing in Nevada

Nevada bettors placed $329.6 million in mobile bets during June.

The mobile total was 67.2% of the overall handle, up from 58% in June 2021.

That is still well below newer markets that do not require in-person registration like Nevada does. Arizona bettors, for example, placed 99% of their May bets online.