Nevada’s sportsbooks enjoyed their best-ever July thanks to baseball and Conor McGregor. Handle was $409 million for the month, down 25% compared with June but still an all-time record in terms of revenue thanks largely to a healthy 8% hold rate which is also up from last year by 2%.
Nevada sportsbooks did better than most of their counterparts around the country.
Revenue figures showed that Nevada’s gambling houses pulled in more money, with a decline of just under 25%. Handle was down 23% for those same 14 US jurisdictions reporting July numbers so far.
Nevada sportsbooks are doing well because of the UFC. The company’s Conor McGregor fights have been very popular and it seems like they’re here to stay for another year or so at least! They’ve got us covered on fight night with their strong holds, which is great news since most other states are having trouble making ends meet these days thanks to declining revenue from gambling alone.
Baseball might be Nevada’s pastime, but it was the Baseball betting that accounted for 55% of all wagers and earned an 8.3 percent return on investment in July alone! Basketball ranked third with $77 million worth bets placed during this time period as well.
The upcoming football season is expected to bring in revenue of around $1 million, but also result in a loss for the state’s GGR. Football betting has been lucrative before though – it generated over $2 million last year and that trend looks set to continue this time around too!
Mobile wagering is still growing and Nevada’s operators saw a big lift in visitors after several months of decline. Mobile accounted for 59% of all handle, compared to 58% before when tourists started returning following the legalization of betting on mobile devices last June . Before that it was 62.4%, which means there has been no significant drop off due at least partly because customers can register their bets online with just an email address or phone number if they don’t want paper receipts issued by cashiers- something many would prefer since dealing cards isn’t always possible while playing games like blackjack these days.
The $2 million paid out by casinos doesn’t seem so bad considering how much revenue came into town during this time period: over $5.