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Nevada sportsbooks set state handle, win records in May

By Dave Tuley  (VSiN.com senior reporter) 

June 30, 2021 01:41 PM

Nevada sportsbooks won $27 million from bettors in May from an overall handle of $478 million, according to figures released Wednesday morning by the state's Gaming Control Board.

Michael Lawton, the GCB’s senior research analyst, told VSiN in an email that both figures are all-time records for Nevada for the month of May. The GBC didn’t provide a year-to-year comparison like it usually does because only a few books were operating last May, while the brick-and-mortar casinos were closed throughout the state due to the COVID-19 pandemic. However, Lawton stated that handle was up 50.4% from May 2020, while the win was up 140%.

New Jersey again was the top sports-betting state in the nation with a handle of $814 million in May (led by $326 million on baseball and $217 on basketball) and a win of $52.9 million. Nevada was No. 2 in handle but fell to No. 3 in win behind Pennsylvania’s $37.4 million. Pennsylvania held a high 8.4% of all wagers, compared to 6.5% for New Jersey and 5.7% for Nevada.

May sports betting figures

State

Handle

Win

Hold%

New Jersey

$814 million

$52.9 million

6.5

Nevada

$478 million

$27.1 million

5.7

Pennsylvania

$447 million

$37.4 million

8.4

Note: Michigan ranked a distant fourth in handle at $258 million

among states that have reported May sports betting figures.

The other states have bypassed Nevada with larger population bases and easier rules for signing up for mobile wagering. New Jersey has 90% of its handle come via mobile. Lawton said 62% of Nevada’s May handle was on mobile. Those bettors appeared to be a little sharper, as the books held just 4.46% of mobile wagers, winning $13.3 million from $297.8 million in wagers.

While baseball led the way in New Jersey, basketball was the most bet sport in Nevada in May with $181 million in handle and a sportsbook win of $11.4 million (6.29% hold) while baseball had a handle of $177 million and sportsbook profits of $8.7 million (4.9% hold).

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