Nevada sportsbook handle falls behind NJ in July

Nevada has once again seen its sportsbook handle fall below that of New Jersey, with customers in the state wagering a total of $235.7m in July. 

Total handle was down 3.6% year-on-year decline, though a significantly higher hold for July 2019 resulted in revenue growing strongly. Sportsbook revenue for the month was $10.5m, compared to $4.1m for the prior year.

Despite New Jersey reporting an 8.0% month-on-month decline in handle, its $251.4m total was still enough to surpass amounts wagered in Nevada for just the second time. New Jersey first beat Nevada – in terms of amounts wagered – in May, only to fall behind again in June. 

Over the month baseball was the main source of revenue for Nevada’s sportsbooks, accounting for $8.6m of the state’s sports betting total. This was offset by losses from betting on basketball and football, of $2.1m and $182,000 respectively. 

A further $64,000 in revenue came from parlay cards, with betting on other events making up the remaining $4.1m.

The growth in sports betting revenue came as gaming revenue across all verticals rose 2.8% year-on-year to $1.02bn. A marginal decline in table, counter and card games revenue (including sports betting) to $328.1m was offset by a 4.2% increase in slot revenue, to $695.9m. 

Read the full story on iGB North America.