Nevada's legal sports betting sportsbooks saw a considerable month-over-month and year-over-year loss in June.
Because of the NHL’s Las Vegas Golden Knights and their bettor-backed run to the Stanley Cup, Silver State operators took a $6.6 million loss in hockey alone, leaving them with a drop of 60% compared to June 2022 and 68% compared to May.
Retail and online sports betting sites combined for revenue of $9.5 million, $14.3 million less year-over-year, according to June figures released by the Nevada Gaming Control Board on Friday. The hold of 1.98% fell nearly three points year-over-year.
The June handle totaled $479 million across the state, down 2.3% from the same month last year and 9% month-over-month.
On the positive side
Nevada joined New York, New Jersey, and Illinois in the exclusive club of U.S. states to reach $4 billion in handle for 2023.
The state only collected $641,453 in taxes from the sportsbooks, but Nevada went over $1 billion in collections for the year.
And while the overall handle for 2023 is down 8%, the revenue is still up 7%.
Retail outperformed mobile in win rate, posting a 3% hold compared to just 1.4% online. However, the mobile handle of $324 million more than doubled the brick-and-mortar wagers of $156 million. Online revenue of $4.8 million was only about $200,000 more than retail.
Other sports
Hockey, which produced a negative hold of 21% on over $30 million in wagers, wasn’t the only successful sport in June for Nevada sports bettors. Sportsbooks lost $1.6 million on football and another $328,000 on basketball.
Baseball at least produced a 4.9% win rate for Silver State operators as they combined to make $14.5 million of revenue on a handle of $323.7 million.
