Nevada Sees Fall in July Sports Betting Handle; not Concerned Going Forward

The July sports betting numbers are in for the state of Nevada, and the slight momentum that was built up in June has ended. After June saw a jump in the handle and revenue for May, things went the other direction in July. 

The total sports betting handle for July was still 409.6 million, but that was a drop of almost 25 percent from July. This was a massive improvement from the July numbers in 2020, but COVID-19 was still affecting the industry at that time. 

Sportsbooks in Nevada brought in more than $33 million in revenue in July, and that was actually a big improvement from June. This is a much more important number to the sportsbooks and the entire state of Nevada. 

One of the biggest reasons for an overall lack of handle was that mobile sports betting saw a significant drop. The handle from online sportsbooks or mobile apps was just $241.9 million last month. 

While most states in the United States see mobile make up at least 90 percent of the entire handle, that isn’t the case in Nevada. Online sports betting represented less than 60 percent, and there was a drop of nearly 25 percent from June. 

Sportsbooks and the state of Nevada are not concerned as there should be a bounce-back coming soon when football begins. 

Closing the Gap on New Jersey

Even though the total sports betting handle in Nevada fell during the month of July, the state was still able to close the gap on New Jersey. Every state that has announced its July sports betting numbers has seen a drop, but Nevada’s drop wasn’t as large as other markets.

Nevada trailed New Jersey by over $221 million in June, but the gap was just $169 million in the month of July. New Jersey has posted better sports betting numbers than Nevada for each of the last 12 months, and that trend is not going to be changing anytime soon. 

Illinois has not yet announced its sports betting totals for the month of July, but it is typical right around Nevada as well. Closing the gap on Nevada is always a step in the right direction, but there is still a ways to go. 

Baseball Brings the Action

Baseball is not usually one of the biggest betting markets in the United States, but it has been attracting plenty of attention in Nevada. For the month of July, baseball accounted for $227.6 million, which made it the most popular sport to wager on.

The NBA was still going on at the beginning of July, and it was a popular betting market as well. The basketball betting handle fell by more than $100 million, but that sport still brought in close to $78 million. 

Other sports helped the state of Nevada put up respectable figures in July as it accounted for nearly $95 million. Football betting handle nearly doubled from the month of June, but that real jump is set to take place in August.  

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