Despite a continuing downward trend in total gaming revenue in Nevada, sports betting enjoyed a 38.6% year-over-year profit growth in April.
Key Takeaways
- Silver State sportsbooks produced the most April revenue since PASPA was overturned in 2018.
- Operator-friendly outcomes early in the NBA and NHL playoffs led to the second-highest revenue month of 2025.
- The win rate more than doubled from March.
The Nevada Gaming Control Board reported that online and retail sportsbooks hauled in $42.7 million in revenue, the most in an April since PASPA was overturned in 2018.
It’s also the second-highest revenue recorded by Nevada sports betting operators in 2025 and the fourth of more than $40 million over the last 14 months. Online sportsbooks accounted for $33.2 million of the total revenue.
The impressive profits came from a handle of $618.9 million, an 8.7% increase from April 2024. However, action fell off by 28% from March, with only the Final Four being played in April.
Still, the Silver State filled its coffers with $2.8 million, up from March’s $1.5 million.
Basketball’s big month
| Year | Basketball Handle | Basketball Revenue |
|---|---|---|
| April 2025 | $246 million | $20.9 million |
| April 2024 | $223 million | $13.3 million |
| April 2023 | $305 million | $15.2 million |
Thanks to a strong operator run during the first month of the NBA playoffs, Nevada sportsbooks enjoyed a 6.9% hold in April, up from the previous year’s 5.4%. It’s the third time in the last seven months that Silver State operators have produced a win rate of 6.9% or higher.
College and pro basketball combined for a whopping $20.9 million in revenue, a 51.75% year-over-year increase, from a $246 million handle. A lack of upsets in the NCAA tournament hurt March’s bottom line, leading to an overall state win rate under 3%. NBA underdogs thrived early in the playoffs to help make up for that in April.
The sport produced an 8.5% win rate, up from basketball’s 6% in April 2024.
Diamond and ice profit
Nevada sportsbooks hauled in $12.2 million in revenue from baseball during April, the second most among all sports. Despite the Vegas Golden Knights winning a Stanley Cup playoff series during April, hockey still generated $5.3 million of profit from a nearly 9% hold.
The “other” sports category produced an impressive 9.7% win rate led to $9.4 million in revenue. Football cost operators $5.1 million in April, while parlays also produced a small loss.
