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.
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.
|State||June 2021 Handle||June 2022 Handle||Change|
|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.