The latest betting market in our radar in our bookie pay per head blog is Nevada, one of the largest in the country. Unique with both retail and online wagering in the state, it is not surprising to see Nevada sportsbooks continue to register some of the top betting handles in the nation. Sportsbooks in Nevada see a total handle of $921.9 million for the month of November. While it is quite the number, it is slightly lower than that of the same time last year at $928 million.
If this makes you wonder if you can make a profit with an online sportsbook, the answer is still a resounding yes. For Nevada, out of the $921.9 million, $625 million come from online sportsbooks. That is 67.8% of the total handle. However, the mobile handle also dips compared to the same time last year, as they see $17.5 million less this year.
Nevada Sportsbooks See Less Wagers But Better Profits
Of course, when you use a sportsbook pay per head to get the data on your bookie operation, the handle is not the only important indicator. Its always important to look at your hold percentage, and of course, revenue. Because like what we are seeing in Nevada now, while we see a decline in handle, revenue actually went up.
The revenue for the state in November is at $40.1 million, 8.8% higher than the same period last year. The hold percentage is at 4.45%, higher than November 2022’s 4.05%. While we would like to see a higher hold percentage, ideally at the double-digit level, the increase in revenue is still great news.
And if you also offer casino gaming, you can even earn more. For Nevada, gaming wins is at a whopping $1.3 billion for November 2023. This is 12.5% higher than the same time last year. With both online sports betting and casino gaming, you can earn as good as sportsbooks in Nevada are. And with leagues like the NFL and the NBA running into the postseason, expect a very lucrative winter for your sportsbook.
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