Nevada Sports Betting Sees Dip in April, Only $458.2M Wagered

Nevada Small FlagAfter a great month of March for the Nevada sports betting industry, the April dip that was expected did occur. The total sports betting handle fell to just $458.2 million, a decrease of more than 28 percent from March.

April is traditionally a slow month for the entire gaming industry in Nevada, and that was the case yet again. The total gaming win was still over $1 billion, just slightly below the total for March.

The total sports betting revenue for April also fell in Nevada, but this time the drop was over 30%. Total sports betting revenue came in at $27.2 million after that number was nearly $40 million in March.

Nevada continues to have one of the lowest hold rates in the United States, and this time it was just 5.9%. This is a big win for sports bettors in the state, but it keeps the state from growing as quickly as some other markets.

Online Betting on the Rise

The good news for Nevada is that the mobile sports betting industry is starting to pick up, and that could lead to some big numbers when NFL football returns this fall. Mobile betting accounted for nearly 65% of the total handle, the best percentage reported since July 2020.

Nevada continues to have an in-person registration requirement in place, and that limits new accounts that are seen at the online sportsbooks. Most states throughout the United States see nearly 90 percent or higher of all bets placed online.

Basketball brought in a total of $181 million in wagers in April, and the NBA made up a large portion of that total. Baseball is a popular betting market in Nevada, accounting for more than $163 million in bets.

Circa Sports Back Again

Circa Sports will once again be bringing back its popular and exciting NFL football contests this fall. The Circa Millions III and Circa Survivor have a combined prize pool of $10 million, and there is no entry fee required for these contests.

The winner of Circa Millions III will win $1 million, with a total prize pool of $4 million. Circa Survivor will pay out $6 million in prizes, with a $1 million prize for an undefeated season.

Registration for these contests will open on May 28th, and participants can register at the Circa Sports locations in Nevada.

New Jersey Widens the Gap

New Jersey is now the clear sports betting leader in the United States, and the gap continues to get larger. The Garden State had a total sports betting handle of $747.9 million for April, surpassing the Nevada total by nearly $290 million.

Not only is Nevada now trailing New Jersey by nearly $300 million in monthly handles, it actually fell below the April handle reported in Pennsylvania as well. Pennsylvania reported $479.4 million in handle for the month, and this is the first time that Nevada has slipped as low as third place.

Illinois has not yet announced its total for the month, and it could potentially move past Nevada as well.

  

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