Sports Betting Handle in Nevada Drops Nearly 30% in February

The Silver State had a month to forget in February, watching its sports betting handle fall nearly 30% from January.

Last Updated: Mar 29, 2023 9:45 AM ET Read Time: 4 min
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Legal sports betting action in the Silver State saw action drop significantly in February despite the Super Bowl.

The Nevada Gaming Control Board announced Tuesday that Nevada's online sports betting sites and retail sportsbooks took in $659.4 in bets last month, a 29.6% decline compared to the $936.5 million handle in January, 

Year over year handle also showed a disappointing month in Nevada, with February 2022 seeing $781 million in wagers — 15.6% higher than February 2023.

Unlike most states that see upwards of 99% of their handle in online sportsbooks, Nevada is different. Mobile betting held just 61% of the entire handle ($402.2 million), but since the statewide action fell, so too did mobile bets. January’s mobile handle was $581.5 million, nearly $200 million greater than February.

Revenues see mixed results

While the state’s handle took an ugly turn, Nevada sports betting operators enjoyed a revenue boost compared to this time last year. 

Sportsbooks in the Silver State kept $41.3 million, which was an 18% month over month drop but a 33.5% jump YoY. February 2022 saw just $30.9 million thanks to a 3.9% hold, and this year's hold percentage rebounded to 6.2%. The previous month for comparison saw a 5.3% hold.

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