As most of avid sports fans know, the sports calendar is lean in certain months, and extremely busy in other months. And since the betting options you will see in sportsbooks are based on what’s in the sports calendar, the volume of action you will get in your sportsbook software varies as well. And since July is considered to be one of the leaner months, many sportsbooks are seeing less action. Let’s see how the Nevada sportsbook industry has performed this July.
Nevada is one of the largest betting markets in the country. The state has hundreds of casinos and sportsbooks, both retail and online. Even with so many operators, those who want to open a sportsbook will see that competition is not that much an issue for sportsbooks in terms of generating revenue with such a large betting market. Even with much lower numbers, Nevada sportsbooks take in $418.4 million in wagers in July. Of course, the state is famous for having some of the best monthly betting handles in the US. Some would think that the current handle is a bit paltry. But a few hundred million is still a healthy amount for sports betting.
Nevada Sportsbook Industry in July
The total sports betting handle for July is $418.4 million, which is 14.7% lower than June’s 490.6 million. Despite the dip in handle, there is a 2.3% increase in handle year-over-year, so there is still growth in the market, despite being in the lean season. It must be noted that the NBA and the NHL both ended in June, as they were years ago. However, due to the pandemic, the ends of these tournaments extended up to July, but this year, went back to the regular June calendar.
Baseball has been the dominant sport for the month, as the MLB is well into its season this July. Many sportsbook operators are expecting to earn more from baseball, as the playoffs will not be until October 7. Experts are optimistic that August will be a better month, especially since football betting is already starting to heat up as the football season will be starting in late August for college football and September for the NFL.