{"id":1596687,"date":"2024-09-27T09:03:24","date_gmt":"2024-09-27T13:03:24","guid":{"rendered":"https:\/\/www.sportscasting.com\/?p=1596687"},"modified":"2024-09-27T09:03:24","modified_gmt":"2024-09-27T13:03:24","slug":"in-august-nevada-sportsbooks-generated-25-million-in-sports-betting-revenue-a-yoy-increase","status":"publish","type":"post","link":"https:\/\/www.sportscasting.com\/news\/in-august-nevada-sportsbooks-generated-25-million-in-sports-betting-revenue-a-yoy-increase\/","title":{"rendered":"In August, Nevada sportsbooks generated $25 million in sports betting revenue, a YoY increase"},"content":{"rendered":"

On Thursday, the Nevada Gaming Commission<\/a> reported $25 million in sports betting revenue. That was a notable year-over-year increase for operators in the state. Compared to their numbers from August 2023, the revenue was up 38.2%. That comfortably outpaced a 5.8% rise in the handle to $455.8 million.\u00a0<\/span><\/p>\n

Revenue was down 3% from their figures in July despite a 21.3% upswing in their betting handle. In August, the $4.86 billion handle was down 3.9% compared to their figures in the first eight months of 2023. However, the $289.9 million is up 15.5%. Their 6.4% hold in 2024 is over one percentage point higher. Nevada\u2019s year-to-date totals for state taxes are $19.6 million, roughly $2.6 million ahead of their pace last year.<\/span><\/p>\n

Where did Nevada sportsbooks see the most wagers in August? <\/b><\/h2>\n

August has Week 0 of college football, NFL pre-season, MLB, and other various sporting events to bet on. While it\u2019s not as busy as the fall, Nevada still saw increased revenue last month. Operators collected more than $8.7 million in revenue in August from football. That was a 72.9% increase from their figures in 2023. Additionally, Nevada\u2019s $84.6 million handle was up 62.2% last year. That also beat their previous record of $72.3 million in August 2019.\u00a0<\/span><\/p>\n

The \u201ccatch-all\u201d category took a jump in revenue for August 2024. This includes <\/span>golf, tennis, soccer, boxing, MMA, and auto racing. Nevada sportsbooks collected $7.6 million in revenue, a 64% YoY increase. Their betting handle from the \u201ccatch-all\u201d category in August was $112.3 million.\u00a0<\/span><\/p>\n

This helped Nevada<\/a> sportsbooks offset a negative shift in baseball wagering last month. Their revenue for baseball in August was 1.8% higher at $9.7 million. However, the betting action from April – August has decreased compared to 2023. Nevada\u2019s $1.14 billion handle in that fourth-month span is down 15.4% YoY. Their $$61.5 million in revenue is also 10% lower.<\/span><\/p>\n

How did mobile sportsbooks fare in Nevada?<\/b><\/h2>\n

Despite $14.8 million in revenue from mobile sportsbooks in August, Nevada\u2019s 4.7% hold on $313 million worth of wagers is their lowest in 2024. Digital wagering accounted for 61.4% of the total revenue. That is on pace to be the highest percentage since the NCGB first published those figures in 2020. Retail sportsbooks had a 7.1% win rate in August, enough for $10.2 million in wagers from $142.8 million in wagers. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, the Nevada Gaming Commission reported $25 million in sports betting revenue. That was a notable year-over-year increase for operators in the state. Compared to their numbers from August 2023, the revenue was up 38.2%. That comfortably outpaced a 5.8% rise in the handle to $455.8 million.\u00a0 Revenue was down 3% from their figures […]<\/p>\n","protected":false},"author":304,"featured_media":1596689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[447316],"tags":[],"class_list":["post-1596687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sports-betting"],"acf":[],"yoast_head":"\nIn August, Nevada sportsbooks generated $25 million in sports betting revenue, a YoY increase<\/title>\n<meta name=\"description\" content=\"On Thursday, the Nevada Gaming Commission reported $25 million in sports betting revenue, a year-over-year increase.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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