Nevada Sportsbooks See Decrease in Betting in April

If you want to learn how to start a sportsbook, make sure you also keep up with the latest in the sports betting industry. By knowing and understanding market behavior, trends, and more, you will know how to analyze your own sportsbook. This is very important in the longevity of your career in sports betting. Today, our latest sports betting news report is about Nevada Sportsbooks, who saw less wagers coming in back in April.

According to the report from the Nevada Gaming Control Board (NGCB), the total monthly sports betting handle for April is at $569.2 million. The handle is 27.5% lower compared to March’s $785.3 million. The month-on-month decrease is not a surprise, as a lot of betting markets are showing the same slump in activity from March to April. This is because college basketball season ends with March Madness in March, with only the Championship Game held in April.

Nevada Sportsbooks See Lower Handle, But Better Revenue

The handle is lower month-on-month, and also slightly lower by 4.8% than April 2023. But still, revenue is at a generous $30.8 million for the month. The hold, however, sits very low at 5.4%. Revenue is lower than the same period last year. But From March 2024 to April 2024, revenue rose by 3.5%.

Revenue is also quite low than usual, and mostly because sportsbooks are still cashing out winning football tickets. Some operators are actually seeing a revenue loss in football wagers for April. This is because the handle for football in April is only at $2.4 million, while payouts are at $5.7 million.

What Drives the Market?

Basketball was the top sport that residents and tourists bet on, with a $222.9 handle. Baseball is next at $188.9 million, with other events such as tennis, golf, soccer, and fighting sports took in $100.4 million in bets.

If you want to join in and earn from sports betting, this bookie pay per head comparison can help you find the best bookie software to help you open your own online sportsbook. Currently, the NBA and the NHL are in the Championship leg of this season’s tournament, and the MLB is ongoing, so there is more than enough opportunity to earn as a bookie.

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