Nevada reported lukewarm results in November amid nationwide gaming market expansion.
The Nevada Gaming Control Board reported a total sports betting handle of $921.9 million, marking a slight decrease from the $928 million recorded for the same month the previous year.
The results were led by mobile wagers despite Nevada’s abundance of retail wagering options. The Silver State saw its mobile betting handle reach $625 million in November 2023, making up 67.8% of total wagers. The mobile handle for the month was down $17.5 million compared to November 2022.
The decline in handle didn’t prevent sports betting operators in Nevada from driving profits. In November, the state’s sportsbooks won $40.1 million — an 8.8% uptick year-over-year. Nevada had a hold percentage of 4.45% in November 2023, compared to 4.05% in November 2022.
Nevada is home to 14 online sportsbooks, which include BetMGM, Caesars Sportsbook, and Circa Sports. In October, GAN Limited received regulatory approval to launch a sports betting platform in Nevada. GAN currently provides sports wagering technology at two U.S. casinos.
The casinos are Wynn’s Encore Boston Harbor and Island Gulf Casino in Gulfport, Mississippi.
Still a major gaming market
Nevada posted $1.3 billion in total gaming wins in November 2023 — a 12.5% increase year-over-year. Between July 1 and November 30, gaming wins in Nevada have grown by 4.7%.
The Las Vegas Strip accounted for $821 million of Nevada’s total gaming wins in November 2023 — a 22.6% jump compared to the same month last year. Nevada has collected $85 million in percentage fees based on the taxable revenue generated in November 2023.
In comparison, the Silver State saw percentage fee collections reach $78 million for the same period last year.
Stay updated with the latest picks, odds, and news! Tap the 
to add us to your favorites on Google News to never miss a story.
