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In January, Nevada’s sports betting market recovered, registering notable increases in handle and revenue compared to the previous year. The overall revenue from sports betting, as reported by the Nevada Gaming Control Board, was $72.6 million, a 12.1% increase over the $64.7 million earned in January 2024. Compared to December, the increase was even more pronounced, with income soaring 384% month over month.
The state’s sportsbooks generated a total handle of $797 million, marking an end to a four-month streak of year-over-year declines. Additionally, the hold percentage climbed to 9.1%, nearly a full point higher than January 2024, and a significant improvement from December’s disappointing 1.8% hold. Online betting played a crucial role, contributing $533.9 million in wagers—a 4.9% increase from the previous year—and bringing in $42.7 million in revenue. Tax collections also saw a boost, reaching $4.9 million, a significant jump from December’s modest $1 million.
December was historically bad for Nevada sportsbooks, as football betting resulted in the first monthly loss during an NFL regular season in over a decade. However, January reversed that trend. After losing $2.1 million on football bets in December, sportsbooks rebounded with $38.7 million in football revenue, aligning with a national trend of increased betting activity during the NFL playoffs. This figure closely matched the $38.5 million reported in January 2024.
Basketball was the second-highest revenue generator, bringing in $21.7 million. Other sports added another $8.8 million in profits, while hockey contributed $4.2 million. Parlays produced a small six-figure gain, while baseball bettors cashed out more than $1 million in winnings.
When February’s Super Bowl revenue figures are released, Nevada sportsbooks stand to gain even more from January’s comeback. With $22.13 million in revenues from the Philadelphia Eagles’ resounding 40-22 victory over the Kansas City Chiefs, the state set a record for Super Bowl betting revenue.
With $151.6 million in total wagers, the Super Bowl had its sixth-highest handle since 2016. In February of last year, Nevada sportsbooks made $47.9 million, of which $12 million came from football alone. The upward trend is probably going to continue, especially with the Super Bowl performance that broke records.