Strong April for Nevada’s Books—New Jersey’s Too

Sun, Jun 9, 2019

The spread of legal sports betting nationwide appears to be a tide that’s floating all boats. Nevada recorded its third consecutive April in which handle was better than the year before. The Garden State, fueled by a robust mobile market, wasn’t far behind.

Nevada’s sports books posted their third consecutive April of year-over-year revenue increases amid growth in legal sports betting nationwide and a particularly strong performance from New Jersey’s bookmakers.

The Silver State’s books generated $21.6 million in revenue on $328 million in handle during April, equating to a respectable hold of 6.6 percent in line with the sector’s three- and 12-month averages.

The finish was a sizable improvement over April 2018’s volume of $315 million and well above 2017’s ($287 million) and 2016’s ($292 million).

New Jersey’s April wasn’t far behind with $21.2 million in win on $313 million in bets, thanks mainly to a lively mobile market that has accounted for more than 80 percent of bets so far this year𑁋versus around 60-70 percent in Nevada𑁋and benefits from a broad base of remote technologies that are considered the most advanced in the current legal market.

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