July is the month where most sports betting markets across the world are seeing a markedly good increase in handle and profit. In the US alone, hundreds of millions are being wagered for the month, with promise of even better numbers for August. Nevada’s July handle is improving, but it is still not as good as other US markets.
Nevada’s numbers are nothing to be ashamed of. Their July numbers are actually double of what they earned in June. But unlike sportsbook pay per head providers, operators do not have the luxury of having anyone just sign up and place wagers. In Nevada, people who want to bet on sports online need to register in person first. This policy could be what’s holding back what could be an online betting market that can rival New Jersey and Pennsylvania.
Nevada’s July Handle
The total handle for July in Nevada is $163,552,059. This is 109.3% higher than June’s 78,152,386. Of course, given the pandemic, its understandable that the year-on-year numbers will be lower, as this month’s handle is 30.7% lower than July 2019’s $235,961,371.
As for the revenue, July’s numbers are only at $6,295,000. Of course, this is still better than June’s loss of $483,000. And if we take a look at the source of wagers, 69% comes from mobile wagers. The handle for online sports betting is $112,898,833. Pay Per Head experts are expecting better numbers all around. But with safety protocols in retail establishments, people will have a hard time visiting casinos and sportsbooks to place their wagers.
Online Sports Betting in the US
This is why many believe that the in-person registration is holding back the Nevada betting industry. Given that 69% of the wagers were online, then it means that this is a huge market that they should capitalize on. And during a time when a pandemic restricts freedom of movement, its only wise to promote online and remote business practices, wagering included.
New Jersey’s July handle is $312,118,805. This is 93% more than Nevada’s handle. Pennsylvania is also enjoying a huge handle for July at $164,782,229. Both states do not have in-person registration requirements for online betting. If anything, their numbers only prove that an easy and fast way of betting on sports online is the future of the betting industry.