Connect with us

Nevada

In August, Nevada sportsbooks generated $25 million in sports betting revenue, a YoY increase

Published

on

In August, Nevada sportsbooks generated  million in sports betting revenue, a YoY increase


On Thursday, the Nevada Gaming Commission reported $25 million in sports betting revenue. That was a notable year-over-year increase for operators in the state. Compared to their numbers from August 2023, the revenue was up 38.2%. That comfortably outpaced a 5.8% rise in the handle to $455.8 million. 

Revenue was down 3% from their figures in July despite a 21.3% upswing in their betting handle. In August, the $4.86 billion handle was down 3.9% compared to their figures in the first eight months of 2023. However, the $289.9 million is up 15.5%. Their 6.4% hold in 2024 is over one percentage point higher. Nevada’s year-to-date totals for state taxes are $19.6 million, roughly $2.6 million ahead of their pace last year.

Where did Nevada sportsbooks see the most wagers in August?

August has Week 0 of college football, NFL pre-season, MLB, and other various sporting events to bet on. While it’s not as busy as the fall, Nevada still saw increased revenue last month. Operators collected more than $8.7 million in revenue in August from football. That was a 72.9% increase from their figures in 2023. Additionally, Nevada’s $84.6 million handle was up 62.2% last year. That also beat their previous record of $72.3 million in August 2019. 

The “catch-all” category took a jump in revenue for August 2024. This includes golf, tennis, soccer, boxing, MMA, and auto racing. Nevada sportsbooks collected $7.6 million in revenue, a 64% YoY increase. Their betting handle from the “catch-all” category in August was $112.3 million. 

Advertisement

This helped Nevada sportsbooks offset a negative shift in baseball wagering last month. Their revenue for baseball in August was 1.8% higher at $9.7 million. However, the betting action from April – August has decreased compared to 2023. Nevada’s $1.14 billion handle in that fourth-month span is down 15.4% YoY. Their $$61.5 million in revenue is also 10% lower.

How did mobile sportsbooks fare in Nevada?

Despite $14.8 million in revenue from mobile sportsbooks in August, Nevada’s 4.7% hold on $313 million worth of wagers is their lowest in 2024. Digital wagering accounted for 61.4% of the total revenue. That is on pace to be the highest percentage since the NCGB first published those figures in 2020. Retail sportsbooks had a 7.1% win rate in August, enough for $10.2 million in wagers from $142.8 million in wagers.



Source link

Advertisement

Nevada

Gas prices climb in northern Nevada amid tensions in the Middle East

Published

on

Gas prices climb in northern Nevada amid tensions in the Middle East


$3.99 on Sunday, $4.09 just days later.

An extra dime for the same gallon of gas, but why?

Conflict in the Middle East has impacted prices at the pump for drivers here in northern Nevada and across the country.

According to AAA, the national average for a gallon of gas has jumped nearly 27 cents since last week, coming in at $3.25. In Reno, the average price is roughly $4.26.

Advertisement

Experts say for every $5 to $10 increase in oil prices, drivers could pay 15 to 25 cents more per gallon.

The increase primarily comes down to the Strait of Hormuz, a narrow waterway between Iran and Oman, which controls roughly 20% of the world’s oil supplies. Amid the tensions, traffic through the area has recently ground to a halt.

Michael Goldman, General Manager of Caru Containers North America, said many of the shippers who typically go through the Strait have changed course.

“We’re seeing the routes ships need to take be much longer, much more costly. Going around the Horn of Africa instead of going through the Strait of Hormuz and the Red Sea. And we’re definitely seeing cost increases to those carriers to make those journeys,” said Goldman.

Jayce Robinson from Sparks said he’s always looking for the best deal in town on gas.

Advertisement

“I mostly fill up here for work, so it’s not my money, but when I do fill up, I definitely look for the cheapest place because money’s tight and gas is expensive,” Robinson said.



Source link

Continue Reading

Nevada

10-month-old found safe, North Las Vegas police cancel AMBER Alert

Published

on

10-month-old found safe, North Las Vegas police cancel AMBER Alert


Authorities have canceled an AMBER Alert after they say a 10-month-old child taken by a non-custodial parent was found safe.

North Las Vegas Police said Thursday that Leilani Williams (aka Leilani Duke) was taken by her father, Roderick Duke.

Duke and Leilani were last seen at an apartment complex in the area of Martin L. King Boulevard and Cheyenne Avenue at 1:40 a.m.

“An AMBER Alert has been activated due to Roderick being in emotional crisis and making threats to harm himself and 10-month-old Leilani,” NLVPD said in a statement.

Advertisement

By 10:05 a.m., NLVPD said that Leilani was located unharmed.

Comment with Bubbles

BE THE FIRST TO COMMENT

Officers took Duke into custody without further incident, and the AMBER Alert has been canceled.



Source link

Advertisement
Continue Reading

Nevada

California Gov. Gavin Newsom speaks to Nevada Democrats in Las Vegas

Published

on

California Gov. Gavin Newsom speaks to Nevada Democrats in Las Vegas


California Gov. Gavin Newsom addressed Nevada Democrats who packed a Las Vegas brewery Wednesday evening for a discussion about his upbringing, his political life and efforts his state has taken to combat the Trump administration agenda.

Newsom, who has been floated as a possible White House contender for 2028, sidestepped a quip from former Nevada Gov. Steve Sisolak who introduced him as the next U.S. president amid cheers from the crowd.

“I’m very grateful for your friendship, and a friendship that’s only strengthened over the course of the last year or so,” Newsom told Sisolak.

Book tour stop

Advertisement

The event, which served as a book tour stop for the California governor, was organized by the Nevada Democratic Party. It took place at Nevada Brew Works near Summerlin.

Nevada Assemblymember Daniele Monroe-Moreno, the state party chair running for North Las Vegas mayor, moderated the discussion.

It was part of the party’s Local Brews + National Views series that’s been bringing Democrats for similar discussions at intimate venues. Past speakers have included former President Joe Biden, Arizona U.S. Sen. Mark Kelly, and Illinois Gov. JB Pritzker.

Criticizing President Donald Trump, Newsom spoke about the immediate aftermath of the 2024 general election.

“We were handwringing, a lot of finger pointing, and a sense of weakness,” Newsom said. “And just incapable of dealing with this moment, this existential moment.”

Advertisement

He said he is taking account for what he described as his own complicity.

“This happened on my watch. This is all happening on our watch,” Newsom said. “And so I realized that I needed to be better.”

That included his advocacy to redraw California’s Congressional map after Trump called for the same in Texas, he said.

“They’re not screwing around, nor are we,” he said about Trump and his administration. “All of us.”

‘You’re giving us a voice’

Advertisement

Newsom spoke out against the surge of federal immigration enforcement operations in California and later Minnesota, calls from the Trump administration to nationalize elections, and cuts to government funding due to the One, Big, Beautiful Bill Act.

He said that pushback against Trump’s policies, including dozens of lawsuits filed by California, were making the president retreat on some of his proposals and policies.

“You’re filling the void, you’re giving us a voice, you’re giving us courage,” he told the crowd. “For things to change, we have to change. And it’s changing.”

The Republican National Committee reacted to Newsom’s Las Vegas visit. Earlier in the day, Newsom attended a private Boulder City event.

“Democrats are selling out to the spoiled, phony rich kid governor from California for years,” RNC spokesperson Nick Poche wrote in a statement. “President Donald Trump and Republicans are delivering major tax cuts and keeping Nevadans safe, unlike Democrats.”

Advertisement

The national Republican Party also criticized California’s policies, and tied them back to Nevada Democrats.

Most of Newsom’s remarks weren’t specific to Nevada. He didn’t take any questions from media.

Polling shows Newsom and Vice President JD Vance leading in hypothetical races for their parties’ nomination. That includes a survey of likely Nevada voters conducted one by Emerson College Polling in November.

Contact Ricardo Torres-Cortez at rtorres@reviewjournal.com. The Associated Press contributed to this report.

 

Advertisement

 



Source link

Continue Reading

Trending