The Nevada Gaming Control Board reported'that sportsbook operators claimed just $18.1 million in revenue for the month of August, as bettors showed a notable improvement in baseball wagering compared to July.
It was the second time in three months sports wagering operator revenue failed to reach $20 million, with June’s $9.5 million total dramatically lessened by the hometown Vegas Golden Knights winning the Stanley Cup. While the house was still paying out winning hockey tickets in August – operators had a net loss of $474,000 on the sport against less than $40,000 handle – the $9.6 million in baseball revenue was less than half of the almost $20 million in winnings on the sport in July.
Despite the light overall winnings, the revenue was still 12.7% higher compared to the $16.1 million generated in August 2022. Handle this year was $431 million, up 5.4% versus last year, and pushed the Silver State above $34 billion in accepted wagers during the post-PASPA era.
The overall statewide hold was 4.2%, the 11th consecutive month it was below the industry standard of 7% – dating back to a 9.3% win rate last September. Nevada has eight of the 29 sub-7% monthly holds recorded nationwide in 2023 spanning 29 states and 225 reports.