The spring-summer U.S. sports betting swoon hit Nevada in April.
Absent NFL and college football and with the March Madness wagering surge mostly a memory, the April sports betting handle of about $598 million was down 27.9% from March ($829.8 million) but it was up 2.7% from April 2022 ($582.5 million).
The April mobile sports betting handle of $395.2 million was a decrease of 25.7% from March ($531.9 million) and also down 6.8% from April 2022 ($424.2 million).
The plunge in handle resulted in a similar drop in revenue month-to-month. Nevada’s April sports betting revenue was about $32.42 million, down 26.1% from March ($43.85 million). However, the most recent April sports betting revenue was an increase of 27.8% from April 2022 ($25.37 million).
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Nevada Sports Betting, April vs. March
| Total handle | Mobile handle | Revenue | |
|---|---|---|---|
| April | $598.010M | $395.191M | $32.415M |
| March | $829.843M | $531.892M | $43.851M |
| Change | Down 27.9% | Down 25.7% | Down 26.1% |
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April Brings Predictable Sports Betting Slump
Sports wagering financial figures generally drop in the late spring and throughout the summer until the arrival of football season.
Online sports betting handle in Nevada for April was 66.1% of the total sports gambling handle. In Nevada, mobile handle is a much lower percentage of total handle when compared to many other states because of in-person requirements regarding registering for online apps. Many other states allow for online registration.
Among individual sports in April, baseball attracted the most handle with $224 million followed by basketball with $216.3 million. Hockey had $66.76 million in handle and “other” had $84.9 million.
While sports wagering was trailing off in April, casino action in Nevada was consistently robust.
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Nevada Gaming Win Up Year Over Year
Nevada’s total gaming win, which would include casinos, for April 2023 was nearly $1.16 billion, an increase of about 2.77% from the same month a year ago when the gaming win for April 2022 was a little less than $1.13 billion, according to the Nevada Gaming Control Board.
The April 2023 win total was also a record number for the month.
In April, both Las Vegas Strip operators and Downtown Vegas operators saw same-month, year-over year improvements.
On the Strip, where there are numerous Caesars Sportsbook properties, gaming win was $624.7 million, an increase of 5.27% over April 2022. Downtown Vegas did even better percentage-wise, reporting $74.5 million in gaming win, a jump of 10.59% from April 2022.
The April total gaming win of $1.16 billion stretched Nevada’s steak of $1 billion-plus months to 26 months, making that benchmark the norm now.
A more closely watched metric of late is whether Clark County alone, the county that includes Las Vegas, hits the billion-dollar mark. Clark County was working on an 11-month billion-dollar streak. In April, it ended when the Clark County gaming win was nearly $995 million.
The state collected about $67.46 million in “percentage fees” off of April taxable revenues.
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