In the latest bookie news, we are taking a look at the sports betting revenue in Nevada for September, as they report a whopping 244% increase from the previous month. Bookies using the best sports betting software are able to easily generate reports about the status of their sportsbooks. The betting handle talks about how much bets a sportsbook gets, while revenue is the total amount a sportsbook gets to keep. Of course, expenses will still be deducted. But when you see a betting market report revenue jumping by this much, it really is a great indicator of the industry for the near future.
The total monthly handle for the month of September is at $811.3 million. This is for both retail and online betting, and is almost double than the previous month. Even better, the year-on-year comparison of the handle for the same period gives us 6.6% growth. If you can track your reports from your Pay Per Head Bookie service, seeing a similar trend is good tidings for your sportsbook.
Sports Betting Revenue in Nevada Bodes Well for Months to Come
The hold for the month is at 7.7%, giving is $62.3 million in revenue. This is the third highest the state’s sportsbooks have seen. That is 244% higher than that of August. However, the year-on-year data shows us having 11.8% less revenue this month compared to that of September 2022. The answer lies in the hold percentage. If the numbers were higher, at the double-digit level, we would have seen an upward trend instead.
This is, however, still good because the huge jump still signifies a continuously growing betting market in the state. Given that it is football betting season, we are likely to see both the handle and revenue be this high in the months to come. In September alone, the handle is at $510 million, which was even higher than the total handle of sportsbooks in the state for August ($431.3 million).
As always, online sports betting takes the higher share in handle, at $538.8 million. This represents around 66.4% of all bets wagered in September. This 9.6% higher than the same period last year. With the increasing popularity of sports betting, its only getting more profitable for bookies to offer online betting services. These bookie pay per head reviews can help you get started.