Baseball Betting The Top Action For Nevada Sportsbooks In April

• Nevada sportsbooks were able to keep $21.66 million in revenue for the month of April.
• Roughly $328 million was wagered in April, where baseball and basketball betting accounted for 80% of that total.
• The sports betting revenue in Nevada for April was down 33% from March’s record numbers.

LAS VEGAS – Nevada’s sports betting revenue information for April was released this weekend and baseball was the big-hitter amongst the books.

Despite entering into NBA basketball and NHL hockey playoffs, the report shows that baseball’s $135.7 million betting handle was 41.3% of the entire handle ($328,121,000) for the month of April.

This comes with all 445 licenses reporting and the books taking in $21.66 million in revenue. The books did slightly better than their year-to-date average, holding 6.6% of all betting action, compared to 5.56% for the first four months.

Despite the higher hold percentage, April’s sports betting numbers saw a 45% drop in the handle and a 33% drop in the revenue, compared to March. This was expected, though, as March accounted for the highest betting handle in Nevada history.

However, comparing this April to that of past years, 2019’s report showed steady improvement year-over-year. In 2017, the total betting handle was $287.6 million and the books kept $15.1 million of that. In 2018, the total betting handle was $315.7 million and the book kept $16.3 million of that.

In short, the betting handle has increased over 14% in two years’ time and the revenue numbers have increased over 43% as well.

The “other” category (golf, hockey, tennis, soccer, etc.) totaled almost $62 million in wagers, earning the books over $8.5 million. These set of sports was the second-highest revenue maker for the month, thanks in part to the Master’s Tournament in Augusta.

Third, in terms of revenue, was basketball betting, which was responsible for under $8 million. However, the total handle was near $130 million, making it the second most active sport bet on. The bettors were able to secure their bags with this action, though, as it posted the lowest hold percentage (6.03%) of any of the sports.

Next will be May’s report, which will include the heart of the basketball and hockey playoffs as well as part of the French Open for tennis. Of course, baseball bettors will be active, as it will likely be the most popular contests for legal sports betting moving through the summer.

News tags: April revenue report | MLB Baseball | Nevada