August is always a busy month in Nevada, as thousands of tourists go to the Entertainment Capital of the World to have fun and try out their luck in some of the casinos. Although the state failed to meet the $1 billion mark for August, it did have an improvement when compared to the August of 2018. There are exactly two reasons why the boost happened, and they are sports betting and table games.
Sports betting has always been available in Nevada, but ever since PASPA was lifted, people started getting more interested in this type of gambling. On the other hand, table games have always been a constant, and casino resorts are making special efforts in attracting more tourists to play them.
The Nevada Gaming Control Board released stats regarding the month of August recently. Statewide, the gaming revenue for the month of August was $952.4 million. Compared to August 2018, there is a 4.3 percent improvement.
However, it also shows a decline compared to the previous month — July 2019. In fact, July was a pretty great month, as the state managed to reach the $1 billion mark, which was definitely not the case with August.
Slots were a tough spot for casinos across Nevada. There was a slight decline of 1 percent, as slots managed to earn a total of $615.15 million. On the other hand, table, card, and counter games managed to make a record 14.3 percent increase, earning $336.9 million.
Craps is the table game that recorded the strongest gains, having earned a total of $36.4 million, which is a 40.3 percent increase. Second place is occupied by roulette, which collected $29.7 million, recording an increase of 34 percent.
Finally, blackjack recorded an increase of 20.6 percent, earning a total of $97.2 million. Although blackjack recorded a great increase, baccarat still managed to earn a bit more money in August — $98.6 million, to be precise. On the other hand, the game of baccarat had an increase of “just” 6.4 percent.
Sportsbooks in Nevada were also thriving during the month of August, as most of the bets were placed on preseason NFL games and college football. The betting revenue was boosted by 48.7 percent, earning a total of $18.7 million. The total betting turnover also had a great increase of 16 percent, as the recorded amount was $288 million.
Football wagering was very popular, as bettors managed to invest a total of $72.3 million, providing a total income of $12.65 million for sportsbooks. This number almost doubled when compared to August 2018, as betting hold increased to an amazing 17.5 percent.
The return on betting on football also resulted in parlay card revenue increase, as they recorded approximately $510,000, which is a 71 percent increase compared to August 2018.
However, the most popular sport during the month of August was definitely baseball, retaining the first place that it has held for some time now. The total turnover was $179 million for August 2019, and the recorded year-on-year increase was 3.74 percent. On the other hand, the revenue from baseball was pretty small — approximately $6.7 million. On the other hand, other sports, including basketball, did not do well once again, recording a loss of $257,000.
Finally, the bettors in Nevada did not do enough to make their state No. 1 in sports betting. So far, New Jersey is still the leader as they reported a total hande of $293.6 million, with $25.3 million in revenue in August.