Football Boosts Revenue in Nevada Sportsbooks This January

Any sports betting site in the US would say that football is the most popular and lucrative sport in their portfolio. With the NFL and NCAA Football tournaments, bookies can stand to earn a lot on these two leagues alone. And this is made clear as football boosts the monthly revenue in Nevada sportsbooks this January.

The last full month of football season helped boost the local betting industry with a 28% year-on-year jump in revenue for January. Using the best bookie pay per head service, you can also generate the same report we are showing you. This is important as it can help you plan the direction you want your sportsbook to take in relation to the current trends in the industry.

According to the latest report from the Nevada Gaming Control Board, the total monthly handle for January sits at $782.9 million. This number, high as it is, is actually 16.4% lower than that of last year. It is also a 7.2% lower than that of December 2023.

Revenue in Nevada Sportsbooks Pick Up

But when you look at the numbers in your sportsbook software, you can easily see that even with a decline in handle, your revenue can still be better. This is dependent on the hold percentage, or the percentage that sportsbooks get to keep from the wagers. For sportsbooks in Nevada, the hold for the month is at 8.27%, giving sportsbooks $64.7 million in revenue. The revenue for January is 9.5% higher than the previous month.

And football is very popular among bettors in Nevada. Out of the total handle, $354.5 million, almost half, come from football bets. They also have a high win rate of 10.9%. Meanwhile, basketball also was popular with a $317.5 million handle, and $18.4 million in revenue. These numbers can help guide you as you now know just how popular these two sports are when it comes to betting.

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