Nevada sportsbooks may have had a sleepier April compared to their booming March, but last month’s handle for the state still surged past that of previous years for a new record.
Sports pool drop in Nevada — or the amount wagered — was US$458.1 million for April, up nearly 40 percent from pre-pandemic April 2019 and the highest it's ever been for the month, according to the Nevada Gaming Control Board.
The amount won by the sportsbooks in April was US$27.2 million, which was 26.3 percent higher compared to two years ago and a new record for the month as well, NGCB senior research analyst Michael Lawton said in an email. The hold for the books last month was 5.95 percent, down from 6.59 percent for April 2019.
Most of the state’s bets were placed online last month. Wagers made using mobile apps totaled US$297.2 million, with the win US$17.9 million and the hold 6.02 percent.
Baseball was the sport that drew the biggest amount of bets in Nevada last month, with a win amount of US$14.1 million, up from April 2019's US$10 million.
While a banner April for Nevada, last month’s action was still less than that of March 2021, when the drop was US$640.7 million, the win amount was US$39.3 million and the hold was 6.14 percent. The March numbers were also boosted by the super-popular NCAA Division I Men's Basketball Tournament, which is otherwise known as March Madness.
Yet Nevada is taking in less than some of its upstart rivals of late, a trend that follows the Supreme Court of the United States striking down the Professional and Amateur Sports Protection Act in 2018, prompting a wave of sports betting legalization. New Jersey, for instance, reported a sports-betting handle of nearly US$748 million in April, with US$681.2 million alone coming from online sources.
A turning point
Things are, however, looking up for Nevada and its gambling industry.
The COVID-19 pandemic is gradually being turned back with the help of vaccines. So much so that the Nevada Gaming Control Board says starting in June, it will scrap “all applicable COVID-19 mitigation protocols” issued under an emergency order, which would be just in time for an expected rebound in tourism.
“As of June 1, 2021, none of Nevada’s counties will retain social distancing or occupancy limitations that would apply to a gaming licensee,” NGCB chair J. Brin Gibson said in a May 26 notice. “If the status of the spread of COVID-19 changes in such a way that a county amends its Local Plan, the Board expects each licensee to fully comply with such changes.”
