Winning futures tickets put a notable dent in Nevada sportsbook revenue for July, as the state’s gaming control board reported $25.3 million in adjusted gross winnings for the month.
Overall, the house paid out $3.6 million above the combined $39.2 million handle from football, basketball, and hockey bettors in the Silver State. Payouts in basketball were $2.1 million above the $34.4 million worth of wagers made in July, while the public came out $782,000 ahead on $3.1 million in football bets.
After absorbing a $6.6 million hit in June in hockey wagers after the hometown Golden Knights won the Stanley Cup title, the payouts in July were a more manageable $694,000 after $1.7 million handle was generated. Since the Nevada Gaming Control Board (NGCB) started breaking out hockey totals in 2020, the combined amount of monthly losses totaled less than $5.1 million prior to June.
Overall handle in July was $408 million, down just 2.7% from the same month last year. Despite the payouts, year-over-year revenue was up 55.7%, as the 6.2% hold was 2.3 percentage points higher. The state received $1.7 million in taxes from sports wagering for July, lifting the total for the 2023 calendar year above $15.7 million.