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Nevada regains top sports betting handle over New Jersey in June

By Dave Tuley  (VSiN.com senior reporter) 

July 30, 2019 01:57 PM

LAS VEGAS – Nevada sportsbooks regained the top spot for sports betting handle by taking in $322.5 million in wagers in June, topping the $317.3 million handled by New Jersey (which topped Nevada in legal sports betting handle for the first time ever in May by $318.9 million to $317.3 million).

Nevada’s 190 licensed books won more than $16.5 million from bettors (compared to $9.7 million won by Jersey books), but it wasn’t all good news for Nevada as that was down 18.14 percent from the same month last year.

As expected this time of year, baseball accounted for a majority of the state’s win at $11.6 million, though that was also down 8.31 percent from June 2018. However, it was at least better than May when Nevada’s books won just $7.77 million on baseball.

Horse racing win was also down 19.05 percent at $3.3 million, continuing an overall decline in handle and win that we’ve seen so far early this year. It certainly didn’t help not to have a Triple Crown threat in the Belmont Stakes in June like with Justify last year

New Jersey’s rapid growth has been boosted by its online books/mobile apps as they generated 83 percent of the state’s handle in May, led by FanDuel and DraftKings as New Jersey breaks down its handle numbers by casino/betting company while Nevada does not provide that information. Jersey’s handle probably took a hit in June with added competition from Pennsylvania books coming online. Of course, we’ll see how everything shakes out with New York now the ninth state to add legalized sports betting since the Supreme Court’s decision to overturn the federal ban last year.

 

June 2019 Nevada Gaming Figures

Category                      2019 Win/Loss     %Change         Hold%

Overall                           $16,587,000              -18.14              5.15

Football                            -$637,000             127.23        -60.56

Basketball                         $946,000          -275.91               1.84

Baseball                         $11,606,000               -8.31             5.56

Sports Parlay Cards        $64,000            -35.77           53.38

Other*                             $4,609,000           -44.63              7.59

Horse Racing                 $3,318,000             -19.06            15.02

 

%Change is compared to same month last year

Hold% is percentage the books won/lost from the handle in that category 

*Other includes hockey, golf, auto racing and all other sports except for horse racing.

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