In the first month of 2024 and the final full month of the football season, the popular sport helped fuel a 28% year-over-year increase in Nevada’s sports betting revenue.
Silver State operators hauled in $782.9 million in January wagers, a handle down 16.4% from the same month in 2023 and 7.2% from Dec. 2023, according to figures from the Nevada Gaming Control Board.
However, an 8.27% hold was the highest since Oct. 2023 and led to $64.7 million, a 9.5% month-over-month increase.
Football produced $38.5 million of revenue on a handle of $354.5 million for a win rate of 10.9%. That was the operators’ best hold of the season.
Bettors especially struggled to beat retail sportsbooks, which enjoyed a 12.6% hold on a handle of $274.3 million.
Mobile wagers made up 65% of the overall handle, but the $508.9 million from online betting was a 12.5% year-over-year decrease.
The Silver State filled its coffers with $4.4 million.
Hoops produces
Nevada sportsbooks benefited in January from upsets in the NFL playoffs and the end of the college football season.
Basketball made up a pretty good chunk of the revenue with profits of $18.4 million on a handle of $317.5 million.
Other sports, which include soccer, MMA, tennis, auto racing, and boxing hauled in $5.7 million in revenue on a handle of $69.3 million while hockey made up $40.7 million of the handle and $3.1 million of the profits.
Super numbers
Nevada’s sportsbook operators better enjoy it now. February revenue probably won’t be as kind as January when it comes to football.
In already reported figures, the Super Bowl produced a 3.7% hold which was the fourth lowest in the last 10 years.
Thanks to the underdog Kansas City Chiefs beating the San Francisco 49ers 25-22 in overtime. Other U.S. states had it worse than Nevada, which hauled in a record-high handle of $185.6 million.
