Nevada, once the unrivaled leader in the US sports betting market, has slipped to 10th in sports betting revenue, attributed to stringent registration rules and competition from states with larger populations and simpler systems. In January, Nevada's gaming sector reported revenues of nearly $1.28 billion ($1,279,418,577), a modest increase from the previous year, despite a 38 percent decline in winnings from Las Vegas Strip casinos to $686,177,770. The state's sports betting revenue for the month was $64.7 million, up 28.4% on an 8.4% hold, even as total sports wagers fell to $782.9 million from $936.5 million. Mobile sports bets accounted for 65% of all wagers. Significant revenue increases were also reported in Reno, up 55 percent to $65.4M, and Washoe County, up 35.4 percent to $87.6M, indicating a shifting gambling landscape within Nevada.
Nevada sports betting in January: Revenue of $64.7 million, up 28.4% on an 8.4% hold. Total sports wagers declined 16.4% ($782.9 million vs. $936.5 million). Mobile sports bets accounted for 65% of all wagers. @TheNVIndy
Nevada's casinos had a good start to the new year. Nonrestricted gaming licensees in the state reported a win revenue of about $1.28 billion for January, according to the state's Gaming Control Board. https://t.co/sd5HVWp0J6
Nevada gaming numbers for January: Total revenue of almost $1.28B was a less than 1 percent increase from 2023. Strip - down 38 percent to $686.1M Big percentage increases in Northern Nevada: Reno up 55 percent to $65.4M, Washoe County up 35.4 percent to $87.6M @TheNVIndy https://t.co/8p9MT1eSzZ
Nevada casinos won $1,279,418,577 from gamblers in January. Las Vegas Strip casinos won $686,177,770 of that... nearly 4% less than January 2023.
The New Hampshire Lottery reported further declines in the state’s sports betting market in January, with both handle and gross gaming revenue falling year-on-year https://t.co/not2ek6DXs https://t.co/dbAyEufs7o
Once the nation’s sports betting leader, Nevada has fallen to 10th place for annual revenue as states with higher populations and simpler registration systems legalize the activity. @howardstutz reports: https://t.co/RLFX6wfDmY
Indy Gaming: Why Nevada has slipped to 10th for sports betting revenue More than five years ago, the Silver State monopolized legal sports betting. However, registration rules have driven growth to more populous states. https://t.co/NkvnZYhDNL @TheNVIndy