Nevada

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

Published

2 years ago

September 27, 2024

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.

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.

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Nevada

Nevada Family Law Group’s Caston addresses separation risks after deadly Smith’s dispute

Published

5 hours ago

May 16, 2026

Press Room

Nevada Family Law Group’s Caston addresses separation risks after deadly Smith’s dispute

LAS VEGAS (KSNV) — A domestic dispute led to a deadly shooting at a Smith’s in the valley this past Tuesday, and the man accused of the killings is now facing multiple felony charges.

Alejandro Estrada, who is charged with the two deaths at the store, is being held without bail. He faces 11 felony charges, including two counts of murder.

Court records show one of the victims, Amanda Frias Rosas, was involved in an ongoing child support case with Estrada.

Marilyn Caston, a junior partner at Nevada Family Law Group, discussed challenges that can arise for separated couples.

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Nevada

Vegas casino pulls plug on prediction market conference amid Nevada crackdown

Published

17 hours ago

May 15, 2026

Press Room

Vegas casino pulls plug on prediction market conference amid Nevada crackdown

A Las Vegas casino abruptly pulled the plug on a prediction market conference over fears the event could draw scrutiny from Nevada gambling regulators, according to a report.

Predict 2026 had been slated for the Aria on the Strip before the MGM-operated resort canceled the booking just days after signing the agreement.

‘The [Aria] is issuing this notice in light of Nevada’s current regulatory and enforcement position regarding prediction markets,’ a lawyer for the resort wrote in a termination letter cited by Barron’s.

The dispute highlights escalating tensions between state gambling regulators and prediction market firms such as Kalshi and Polymarket, which let people bet on the outcomes of all kinds of events.

Nevada regulators have taken an especially aggressive stance toward the fast-growing sector, arguing that some sports-event contracts resemble unlicensed wagering that bypasses state gaming rules and taxes.

Last October, the Nevada Gaming Control Board warned casino license holders that maintaining ties to prediction market operators could factor into whether they remain eligible for gaming licenses.

“If a Nevada licensee chooses to offer Sports and Other Event Contracts in Nevada or decides to partner with other entities offering Sports and Other Event Contracts in the state, the Board will consider these developments as it evaluates the suitability of the entity to maintain a Nevada gaming license,” regulators said in the guidance cited by Barron’s.

While Predict 2026 was not sponsored by any prediction market company, Aria’s legal notice indicated that regulators had become increasingly sensitive even to indirect promotion of the industry.

The Aria, which opened in 2009 and is operated by MGM Resorts after being sold to Blackstone in 2021, did not immediately respond to a request for comment.

The showdown highlights the widening divide between traditional casino operators and the new entrants into the prediction market space.

Legacy gaming giants such as MGM Resorts and Caesars Entertainment have largely stayed away from prediction markets even as companies including DraftKings have launched competing platforms to challenge businesses like Kalshi.

Prediction market operators insist that their event contracts are federally regulated financial instruments overseen by the Commodity Futures Trading Commission, allowing them to operate nationwide for users over 18.

Some state gaming regulators, however, have argued that sports-related contracts closely resemble sports betting and should fall under state gambling laws.

Nevada officials have already taken direct legal action against Kalshi.

The Nevada Gaming Commission sued the company over its sports event contracts, and the platform was briefly barred from operating in the state earlier this year, according to Barron’s.

The Post has sought comment from Polymarket, Aria and the Nevada Gaming Control Board.

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