Sportsbooks in Nevada look to 2024 as a better year as the Nevada sports betting handle dropped last December. According to the Nevada Gaming Control Board, the total sports betting handle for sportsbooks in Nevada is $843.5 million for December 2023. While those of you who are reading bookie pay per head reviews so you can build a sportsbook see this as a very good number, it is lower than the previous month, and year.
November 2023’s handle is $921.9 million, so there is an 8.5% month-on-month decrease. Meanwhile, December 2022’s handle is $880.5 million, so we see a 4.2% year-on-year drop in handle. Even though December was quite a slow month in terms of betting, it does not necessarily mean it is a bad month revenue-wise.
As for where the bets came from, 33% of the handle come from retail sportsbooks. Majority of the wagers still come from online sportsbooks, a trend that we expect to see in 2024. Football and basketball continue to be the popular sport people bet on. As a bookie, you can offer your players the best NFL and NBA betting lines with the best white label sports betting services.
Nevada Sports Betting Handle Drops; Revenue Rises
When you use the best pay per head sportsbook software, you will easily track your sportsbook’s data. From handle to the hold percentage, down to the last dollar you will earn, you can access the data in just a few clicks. There, you will see that even with less bets coming in, you can still earn a lot if your hold percentage is good – which is the case for Nevada sportsbooks.
The hold percentage is at 7% for that period. While not in the ideal double-digit range, it is still higher than November’s 4.4%, and last year’s 6.2%. With this hold percentage, sportsbooks won $59.1 million. This is 47% higher than the previous month, and 7% higher than the previous year. All in all, this is a good bottom line for bookies.
All in all, the state generated $8.26 billion in 2023. This is slightly lower than 2022’s handle of $8.78 billion. Even then, the total gross revenue for sportsbooks in Nevada climbed from 2022’s $446 million, to $481 million in 2023.
Get a Free Trial of the Best Bookie PPH Software of 2024 at Price Per Player Here!
