The Nevada Gaming Commission announced Wednesday that $481.6 million was wagered in June, down 6.6% from May and marking the fourth consecutive loss from one month to the other.
Online and retail sportsbooks produced $29.8 million combined in revenue, falling 17.3% from the previous month. Some of that is expected at this time of the year as the NBA and NHL wrap up their playoffs in June.
The good news for Nevada sports betting operators is that the Florida Panthers won the Stanley Cup. June revenue rose nearly 214% year-over-year because it wasn’t the Las Vegas Golden Knights, who left sportsbooks reeling last summer after capturing the title. June’s 6.2% hold jumped more than four points from the same month in 2023.
Mobile sportsbooks hauled $314.6 million in wagers and $16.8 million in revenue in June.
Nevada filled its coffers with $2 million in tax revenue.
Diamond action leads the way
Baseball predictably led all sports with a $259.5 million handle. A 4.2% hold produced $10.8 million, also the most of any sport.
Basketball provided a nice injection of revenue as a 12.3% hold led to $8.6 million of profits on a $70.2 million handle.
Hockey had an even higher hold at 15%, producing $3.9 million of revenue on $25.8 million in the amount wagered.
Sportsbooks are still paying out winning football tickets. The sport, which brought in $2.5 million in wagers, cost operators $2.05 million in June, down from $3.4 million in May, $5.7 million in April, and $13 million in March.
Other sports, which include golf, tennis, soccer, MMA, and boxing, combined to generate $8.6 million of revenue on a $123.2 million handle.
Half-year totals
A much more profitable June has Nevada sports betting operators’ revenue up 15% compared to the first six months of 2023.
More than $3.8 billion has been wagered year-to-date, down 4.6% compared to last year. However, sportsbooks have enjoyed a slightly higher win rate of 6.2%.
Sports betting operators have paid out $16.1 million in taxes to Nevada year-to-date, up more than $2 million compared to the first half of 2023.
