Sports betting in the Silver State was up significantly in November.
Key Takeaways
- Nevada generated its best sports betting handle in two years.
- Operator revenue spiked nearly 8% from the previous November.
- Football produced another highly profitable month for sportsbooks.
Not only did the year-over-year handle increase 8.4%, but $908.1 million was the most wagered in Nevada since November 2023. A dip in Las Vegas tourism in 2025 has put a damper on sports betting volumes in the Silver State, but November’s handle was up 63% compared to October, a sports-heavy month.
It helped that the gambling Mecca hosted Formula One’s Las Vegas Grand Prix the weekend before Thanksgiving.
Enjoying Covers content? Add us as a preferred source on your Google account
Profits rise
The Nevada Gaming Control Board, which released November figures on Wednesday, also reported a 7.9% year-over-year increase in sports betting revenue. Operators hauled in $72.9 million, making November the single-most profitable month since September 2024.
The 8% hold was in line with November 2024 and was the fourth-highest recorded in 2025.
Mobile sportsbooks accounted for 72.1% of all Nevada action, generating a $654.7-million handle, an 11.8% year-over-year increase. The $47 million of online sportsbook revenue rose 16% from November 2024.
Football booms
| November Revenue | YoY Change | |
|---|---|---|
| Football | $48.3 million | 18.7% |
| Basketball | $15 million | -14.2% |
| Other | $7.1 million | -26.2% |
| Hockey | $5.1 million | 67.7% |
Nevada was helped by a busy sports betting month that included the NFL, NBA, NHL, college football, and the start of college basketball. Football generated $48.3 million in operator revenue, an 18.7% increase from the same month in 2024. Bettors struggled against the house much of November, as profits were up from the $33 million in October.
Basketball saw a 14.2% year-over-year decrease in profits, but the sport generated $15 million in revenue, up from $6.5 million in October. Revenue from the “other” sports, which includes the F1 event, took a 26.2% year-over-year tumble to $7.1 million.
Hockey produced a solid month, creating $5.1 million in operator revenue, a 67.7% year-over-year increase. Baseball bettors cashed World Series and futures tickets, costing sportsbooks $4.8 million in November.
Falling off
Nevada sports betting could continue with a downward trend if December doesn’t produce a massive handle. Sportsbooks have generated a little over $6.8 billion in wagers through 11 reported months.
That’s $1 billion behind the 2024 total. Nevada hasn’t seen a handle reach $1 billion since January 2022, making it likely that 2025’s betting will fall behind year-over-year, which happened over the last three years as sports betting has become legalized across 39 U.S. states.
The good news for Nevada sportsbooks is that they’ve already surpassed 2024’s revenue total, and the yearly hold (7.2%) is on pace to be the highest reported since PASPA was overturned in 2018.
