The Nevada Gaming Control Board reported on Friday $46.7 million in adjusted gross sports betting revenue for May, with mobile operators clearing $30 million in back-to-back months for the first time since such figures were broken out starting in 2020.
Revenue was up 29.7% compared to last year, outpacing the 11.9% bump in handle to $576.7 million. Operators statewide had a collective 8.1% hold, the fourth time in the last nine months it was above 8%.
The solid May moved year-to-date revenue to $225.4 million, a 7.8% increase compared to last year. The $3.36 billion handle represents a 2.7% increase versus the first five months of 2024. The state collected $3.2 million in receipts for May, and the $15.2 million inflow for 2025 so far is running $1.1 million ahead of last year.
Mobile operators getting traction
Bettors who wager digitally in Nevada have often had better-than-average results compared to their retail counterparts. Last year marked the first time the full-year online hold eclipsed 5%, and the first five months of 2025 show those operators edging near 6%.
Mobile sportsbooks accounted for more than two-thirds of total revenue for the third consecutive month in May — an unprecedented streak — while reaping $31.2 million in revenue. Digital operators finished with a 7.4% hold against $421.7 million worth of wagers. Year-over-year mobile handle drove the increase in overall wagering, surging 20%, and revenue climbed 35.7%.
The $145.7 million in mobile revenue generated for 2025 is up 14.3% compared to last year and currently accounts for 64.6% of all Nevada sportsbook revenue.
Retail sportsbooks had a good May, finishing just shy of a 10% hold while keeping $15.5 million of the $155.1 million wagered. Despite in-person action being down 14.9% versus the first five months of 2024, revenue has tailed off only 2.5% at $79.8 million.
Baseball good to the books
Silver State sportsbooks had their best May in the post-PASPA era when it came to baseball, attaining an 8.2% hold to claim $19.1 million in winnings. The previous high was $16.5 million in 2023, and this year’s figure was up 70.9% compared to 2024.
Action also picked up: The $231.4 million worth of accepted wagers was up 13.3% from last year.
Off-season football losses also declined, helping operators’ bottom lines. The $2.5 million in payouts above the $1.5 million handle was $926,000 less versus 2024 with nearly the same handle. Basketball winnings totaled $12.7 million, down 26.1% from last year as the 6.7% hold plummeted more than 2.6 percentage points.
The catch-all “other” category, which includes golf, tennis, soccer, table tennis, boxing, MMA, and auto racing in Nevada, also provided a nice May windfall for the house at $10.3 million — the second-highest monthly haul in the post-PASPA era behind the $10.4 million accrued last September. Operators notched an 11.1% win rate against $92.9 million handle in attaining a fourth double-digit hold in the last nine months.
Nevada knocked from the podium for handle
Despite the bump in handle for May, it was not enough for Nevada to reclaim the No. 3 spot from Illinois when counting total post-PASPA handle. The two states are now separated by $615.8 million, with Illinois expected to become the third state to clear $50 billion when the state’s gaming board publishes May figures.
The expected outcomes in May will mark the first time since the start of the post-PASPA era — which began in June 2018 — Nevada will not be among the top three states for total handle. New Jersey first passed the Silver State in April 2021, and New York — now the largest marketplace in the U.S. — did likewise in February 2024.
