Nevada’s sports gambling handle for January told an interesting tale.
Overall handle for sports betting in Nevada was up from the previous month by more than 6%, but the mobile handle was down more than 3% in a month-to-month comparison. That’s an obvious indication the retail side of the sports wagering business was faring better than the online side.
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In Nevada, mobile sports wagering doesn’t get as great a handle proportional to retail as other states that offer mobile sports betting apps. That’s because in-person customer registration is required in the Silver State, whereas the more convenient option of online registration is typical in most other states with mobile sports betting. Plus, Nevada has attractive destination sportsbooks that draw tourists as well as locals.
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Breaking Down January Nevada Numbers
Getting to the specifics of the sports gambling numbers, the January overall sports betting handle, or amount wagered, was $935.8 million, up 6.3% from December ($880.4 million). Meanwhile, the mobile sports betting handle for January was $581.6 million, down 3.6% from December ($603.1 million).
For January 2023, mobile sports betting handle was 62.2% of the total handle.
No surprise, football (nearly $430 million in handle) and basketball (just over $392 million) dominated the action.
The year-over-year handle comparisons against January 2022 were not as good.
The overall sports betting handle in January 2023 was down 15.6% from January 2022 ($1.11 billion), and the mobile sports betting handle in January was down 26.1% from the $786.8 million recorded 12 months earlier.
As for revenue, the January overall sports betting revenue of $50.44 million was down 8.6% from December ($55.2 million), but interestingly, it was up slightly, 0.9%, from January 2022 (almost $50 million). The revenue indicates an average hold in January of about 5.4%.
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Nevada Sports Betting, January vs. December
| Total handle | Mobile handle | Revenue | |
|---|---|---|---|
| January | $935.793M | $581.607M | $50.440M |
| December | $880.380M | $603.066M | $55.204M |
| Change | Up 6.3% | Down 3.6% | Down 8.6% |
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Monthly Gaming Win Again Tops $1 Billion
Overall, Nevada’s gaming industry keeps chugging along at a steady billion-dollar-plus pace per month. The January total gaming win, obviously dominated by Las Vegas’ bricks-and-mortar casinos, was $1.27 billion. That marks the 23rd straight month that gaming revenues have hit the billion-dollar mark. The January revenue figure was also about an 18% increase over January 2022.
Of the $1.27 billion in gaming revenues for January 2023, the Las Vegas Strip accounted for more than $713 million and Downtown Vegas facilities combined to chip in nearly $85 million. In both cases, those revenue numbers represented more than 25% increases in same-month, year-over-year comparisons.
The Boulder Strip casinos on the east side of the Las Vegas Valley, indicative of betting action by locals, saw more than $96 million in revenue, an increase of over 13% from the same month last year.
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