Nevada Sports Betting Handle, Revenue Hit 2022 Lows In August

Nevada sports betting handle and revenue hit new low in August. The state collected $1.1 million in taxes from sports wagering for the month. Nevada is still short of $100 million post-PASPA. The year-over-year handle has climbed 25.2% to $5.5 billion, but the win rate is down to 4.3%. It is the first time since the pandemic that sportsbooks failed to generate at least $20 million revenue in back-to-back months since May-August 2019.

Baseball and 'the others' account for the majority of Nevada's sportsbook revenue for August. The sport-specific win rate of 5% was 1.5% lower than July. Winning tickets were still being paid out in football, basketball, and hockey.

Nevada sports betting handle reached $293.3 million in August. Mobile handle percentage reached 71.7%, the second time this year it exceeded 70%. Mobile win rate was 3.4%, as operators claimed slightly less than $10 million from online bets placed. Retail sportsbooks collected more than half the year’s revenue at $115.8 million despite processing only 31% of the overall handle.