- The Nevada Gaming Commission released its revenue report, showing that $477.2 million was wagered in May.
- This is a 4.9% increase month over month but sports betting revenue is slightly down.
CARSON CITY, Nev. – Sports betting in Nevada continues to thrive, seeing increases in activity month over month in May.
Nevada was aided by local fans betting on the NBA, with the bulk of the bets coming from basketball wagers.
Additionally, Nevada sports betting saw only a slight decrease in sports betting revenue but still managed to make a solid May profit off of wagers.
Sports Betting In Nevada
The report released by the Nevada Gaming Commission shows that $477.2 million was wagered on sports during the month. This is up 4.9% from the $454.7 million bet in April.
Sports betting revenue fell to $27.1 million with the state holding $1.8 million in taxes.
Basketball betting was responsible for $181.5 million of the total handle in May. Local sportsbook saw $11.4 million in revenue from basketball wagers. Baseball bets were the second most popular wagers in May. $1796.8 million came from MLB betting with $8.7 million in revenue.
Third in wagers came from hockey bets. The NHL playoffs raked in $52.3 million with $2.3 million in revenue for local sportsbooks.
Nevada continues to be dominated by mobile betting while maintaining a strong retail sports betting market. 62.4% of all wagers came from mobile and online sportsbooks, down slightly from the 65.3% of the market held in April.
Other markets like New Jersey and Pennsylvania see more than 90% of all wagers come from mobile and online sportsbooks.
The fact that Nevada’s brick-and-mortar sportsbooks still manage to bring in such a large chunk of the total market is impressive, especially considering the country still struggling with COVID-19 issues.
Nevada is a gambling hub, specifically Las Vegas. This could be contributed to local bettors already being at casino operations gambling on slots and card games.
Nevada is currently the second-largest legal sports betting market in the US. While New Jersey, which is number one, dominates with mobile and online betting, Nevada is benefitted greatly from its strong local casino operations.
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Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.