Nevada
Neighboring Arizona makes gains on Nevada sports-betting business
Arizona, Nevada’s closest geographic competitor for legal sports wagering, may be gunning for the Silver State after a record sports handle was recorded there in March.
Buoyed by hosting the NCAA Tournament’s Final Four this year, the Arizona Department of Gaming reported last week that the state’s 16 vendors took $760 million in wagers, an all-time high for the state, which has had legal sports betting only since September 2021. That total was up 17.8 percent from March 2023.
Nevada, which is no slouch for March Madness betting, took $784.4 million in wagers at 180 licensed sportsbooks, down 5.5 percent from a year ago.
Another key difference between Nevada and Arizona is that around two-thirds of sports bets in Nevada are made through mobile apps. In Arizona, almost all the action is taken through apps.
Chris Altruda, a sports wagering expert who formerly wrote for ESPN and The Associated Press, monitors sports wagering among the states that have legalized sports betting for
SportsHandle.com.
Although Arizona doesn’t break down wagering by event, Altruda is convinced that having the Final Four at State Farm Stadium in Glendale boosted interest in betting within the state. It also didn’t hurt that the University of Arizona was in the tournament as a No. 2 seed. It lost to Clemson in the Sweet 16.
“Though the Arizona Department of Gaming does not break out handle figures by sport-specific categories, it is evident that Phoenix serving as host of the Final Four gave plenty of sportsbooks a heightened bounce when it came to March action,” Altruda said in recent commentary about Arizona numbers.
Hosting big events
Hosting a major event can boost sports betting numbers. Nevada noticed that with record Super Bowl wagering in February when the game was played at Allegiant Stadium. The Final Four will come to Allegiant in 2029.
Altruda noted that FanDuel — a vendor in Arizona that isn’t licensed in Nevada — set a state record for handle at $265.1 million. Its biggest rival, DraftKings, which also isn’t licensed in Nevada, wasn’t far behind with its own monthly best of $255.3 million.
Nevada does not break out handle or revenue by vendor.
“March also showed just how important mobile sports betting is to Arizona as its record handle was within $25.5 million of Nevada, where Las Vegas serves as a bucket-list destination for sports bettors who are also big fans of college basketball and the NCAA Tournament,” Altruda said.
“Arizona’s mobile handle accounted for 99 percent of the total handle compared to 64.6 percent in Nevada, and shows the Grand Canyon State’s 16 digital operators — regardless of market share penetration — are doing the right things needed to attract and retain business through both promotional offers and customer satisfaction.”
It would be interesting if FanDuel or DraftKings ever sought licensing in Nevada because they have national recognition, often offer promotional discounts to new players and offer fantasy sports games. But it isn’t likely they would venture into the state because of state policies requiring in-person verification of identification when first registering for wagering apps. Nevada companies have resisted allowing remote registration popular in most U.S. states that allow sports betting.
Change in policy?
After seeing last week’s April Nevada gaming win numbers, which included a decline in sports wagering, Altruda believes Nevada may need to re-examine its in-person registration policy.
“With Nevada still requiring in-person registration to gain access to mobile sports betting apps since the Las Vegas Strip is a gambling destination beyond sports wagering, it feels like the Silver State is quickly reaching a day of reckoning where this requirement may need to be waived,” he said. “Simply put, there are not enough in-person sporting events being held in Las Vegas and the state that will help stimulate substantial retail handle — this in turn puts pressure on sportsbooks to match year-over-year revenue totals with less action.”
Altruda said the jury is still out on how much Arizona can gain on Nevada’s sports wagering territory.
“It remains to be seen if Arizona can stay within shouting distance of Nevada when the NFL season rolls around this fall since pro football continues to be the primary mover of sports betting handle in the U.S.,” he said. “But in less than three years since launch, Arizona has positioned itself nicely to have the opportunity to challenge the original champion of legal sports wagering in this country for handle bragging rights at that time of year.”
Altruda has compiled a Top 10 list of states by sports betting handle, and Arizona has climbed into eighth place, well behind No. 3 Nevada.
Nevada has taken $40.1 billion in sports bets all time through March.
Leading the pack is New Jersey, $50.87 billion (through April), followed by New York, $43.42 billion (through April). New Jersey benefits from being in business for decades while New York capitalizes on its high-volume population.
Behind Nevada are Illinois, Pennsylvania, Colorado, Indiana, Arizona, Michigan and Virginia.
Evolution continuing
The sports betting landscape continues to evolve since the U.S. Supreme Court lifted the ban on states taking sports bets with its decision on the Professional and Amateur Sports Protection Act in 2018.
It’s unclear whether Nevada would ever lift its in-person registration requirement, a move that would need legislative action.
And meanwhile, sports betting remains a clouded issue in neighboring California, which could become the nation’s largest market if sports wagering is ever legalized there.
If that happens, all bets are off on where Nevada will rank nationally.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
Home prices in Southern Nevada dropped from record highs to end 2025 and less homes sold last year compared with 2024.
Approximately 28,498 existing homes sold in the region last year, which is down almost 9 percent from the 31,305 homes that sold in 2024, according to trade association Las Vegas Realtors, which pulls its data from the Multiple Listing Service. This is the lowest number of homes sold in a year in Southern Nevada since 2007 right before the Great Recession.
The median sale price for a house sold in Southern Nevada in December was approximately $470,000, a 3.9 percent drop from November, according to LVR. By the end of December, LVR reported 6,396 single-family homes listed for sale without any sort of offer. That’s up 28.8 percent from one year earlier.
Despite a down year in sales, the local market did end on a high note.
George Kypreos, president of Las Vegas Realtors, said he is optimistic the housing market could turn around this year. The LVR report noted that home sales in Southern Nevada have seen “peaks and valleys” in recent years, generally declining since 2021 when a record 50,010 properties sold.
“Although it was a relatively slow year for home sales, we’re seeing some encouraging signs heading into the new year,” said Kypreos in a statement. “Buyer activity locally and nationally is starting to improve. Home prices have been fairly stable, and mortgage interest rates ended the year lower than they were the previous year. Most trends are pointing to a more balanced housing market in 2026.”
Freddie Mac currently has the average price for a 30-year fixed-term mortgage rate at 6.1 percent. That mortgage rate has not gone below 6 percent since 2022.
The all-time high median home sale price in Southern Nevada was broken multiple times last year, and currently sits at $488,995 which was last set in November while the condo and townhome market has dropped substantially from an all-time high that was set in October of 2024 ($315,000) to $275,000 to end 2025.
Major residential real estate brokerages are mixed as to where the market will head this year as Zillow, Redfin and Realtor.com have all put out their 2026 projections, and they expect a similar market to 2025. Mortgage rates aren’t expected to drop enough next year to unlock the country’s housing market, new builds will continue to lag, and prices will remain relatively elevated.
Realtor.com said in its report that it predicts a “steadier” housing market next year and a slight shift to a more balanced market. Redfin’s report says 2026 will be the year of the “great housing reset,” which means the start of a yearslong period of “gradual increases in home sales and normalization of prices as affordability gradually improves.”
Finally, Zillow said the housing market should “warm up” in 2026 with “buyers seeing a bit more breathing room and sellers benefiting from price stability and more consistent demand.”
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
TRUCKEE, Calif. — An avalanche in California’s Sierra Nevada on Monday buried a snowmobiler in snow and killed him, authorities said.
Rescuers responded after a 911 call around 2:20 p.m. reported a possible avalanche near Johnson Peak and Castle Peak in Truckee.
The snowmobiler was initially reported missing but then was found under the snow several minutes later, the Nevada County Sheriff’s Office said in a statement.
Fellow recreationists found him but he didn’t survive despite lifesaving efforts, according to the statement.
Emergency personnel were working to safely extract the victim late Monday and to confirm no others were buried.
The sheriff’s office said more avalanches could occur and recommended that people avoid the area.
Each winter, 25 to 30 people die in avalanches in the U.S., according to the National Avalanche Center. The center’s current map shows high risk spots in Utah and Washington and areas of considerable risk in California, Colorado, Idaho and Wyoming.
Nevada Preps Winter Sports Rankings
Records through Sunday
Boys basketball
Class 5A
1. Liberty (10-5)
2. Democracy Prep (9-6)
3. Coronado (5-6)
4. Bishop Gorman (9-7)
5. Desert Pines (11-4)
Class 4A
1. Clark (8-5)
2. Las Vegas High (10-4)
3. Losee (7-5)
4. Faith Lutheran (11-5)
5. Shadow Ridge (11-4)
Class 3A
1. Virgin Valley (9-2)
2. The Meadows (9-5)
3. Boulder City (9-5)
4. GV Christian (8-6)
5. Pahrump Valley (5-7)
Games to watch
All games at 6:30 p.m. unless otherwise noted
Tuesday
Losee at Las Vegas
Faith Lutheran at Liberty
Wednesday
Bishop Gorman at Desert Pines
Virgin Valley at The Meadows
Thursday
Coronado at Mojave
Clark at Durango
Friday
Desert Pines at Las Vegas
Virgin Valley at Boulder City
Saturday
Big City Showdown at Coronado
Liberty vs. Desert Pines, 4:30 p.m.
Bishop Gorman vs. Coronado, 8 p.m.
Girls basketball
Class 5A
1. Bishop Gorman (11-1)
2. Democracy Prep (7-4)
3. Centennial (6-3)
4. Liberty (10-7)
5. Shadow Ridge (3-4)
Class 4A
1. Mojave (9-4)
2. Mater East (10-4)
3. Losee (14-5)
4. Del Sol (13-3)
5. Cimarron-Memorial (9-2)
Class 3A
1. Virgin Valley (6-5)
2. Boulder City (8-6)
3. Moapa Valley (8-4)
4. Coral Academy (7-4)
5. Pahrump Valley (4-7)
Games to watch
All games at 6:30 p.m. unless otherwise noted
Wednesday
Faith Lutheran at Shadow Ridge
Centennial at Liberty
Mojave at Desert Oasis
Thursday
Sierra Vista at Cimarron-Memorial, 5 p.m.
Friday
Mater East at Desert Oasis
Virgin Valley at Boulder City
Saturday
Big City Showdown at Coronado
Bishop Gorman vs. Centennial, 6:15 p.m.
Flag football
Class 5A
1. Desert Oasis (8-0)
2. Shadow Ridge (10-1)
3. Arbor View (10-1)
4. Palo Verde (10-3)
5. Liberty (6-2)
Class 4A
1. Virgin Valley (5-3)
2. Sierra Vista (5-2)
3. Mater East (6-3)
4. Clark (7-4)
5. Spring Valley (5-2)
Games to watch
All games at 5:30 p.m.
Wednesday
Palo Verde at Desert Oasis
Coronado at Bishop Gorman
SECTA at Arbor View
Friday
Shadow Ridge at Palo Verde
Canyon Springs at Arbor View
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