The Nevada Gaming Control Board reported $36 million in sports betting revenue for May on Thursday, a notable year-over-year increase while handle went in the opposite direction.
Operator winnings were up 19.8% from May 2023, notably outpacing the 2.3% decline in handle. The hold, which was just shy of the 7% industry standard, was 1.3 percentage points higher than last year. Revenue was also 17% higher than the $30.8 million claimed in April, with handle down 9.4% from the previous month’s $569.2 million worth of wagers accepted.
The state collected $2.4 million in tax receipts from sports betting revenue in May, and the $14.1 million inflow into state coffers for the calendar year is $755,000 ahead of the pace from the first five months of 2023.
Hand-Wringing Over Handle
Running May Top 10 #SportsBetting handles by state: