Nevada sports betting saw just a modest year-over-year increase in legal sports betting handle, but revenue was up 27.8% in April.
The Nevada Gaming Control Board reported that $598 million was wagered for the month, a 2.7% jump from April 2022, but thanks to a hold of 5.4%, online sports betting sites and retail sportsbooks combined to make $32.4 million in revenue. That was $7 million more than the previous April, and the win rate went up 1.1% year-over-year.
With college basketball tournaments mostly in the rearview, April’s handle was down 28% while revenue fell by 26% month-over-month.
The Silver State still hauled in $2.2 million in taxes, which boosted Nevada over $11 million in receipts year-to-date.
Mobile wagering made up $395.2 million, which is 66%, of the overall handle for revenue of $18.6 million. Retail produced a higher hold of 6.8% on a handle of $202.9 million with revenue of $13.8 million.
Win rate rises in basketball
Without many of the March Madness options, NBA became the main focus in April, but bettors struggled even more compared to March against the sportsbooks, which increased their hold from 6.8% to 7% in basketball.
The sport led all others for revenue in Nevada as winnings totaled $15.6 million for operators. The handle of $216.3 million was less than the $224 million produced by baseball, but the bat and ball sport made $9.1 million of revenue on hold of 4% in its first full month of the season.
Hockey, meanwhile, saw its hold fall from 7.9% in March to 4.9% in April. All of the other sports combined for a win rate of 11.7% and made up $9.9 million in revenue.
