Nevada recorded $545.7 million in sports betting handle during May 2026, down 5.4 per cent from $576.8 million in the same month last year, according to the Nevada Gaming Control Board. The decline marks the fourth consecutive month of year-on-year decreases in sports betting handle, reflecting increased competition from expanding legal betting markets across the United States.
Sportsbooks generated less profit despite betting activity during the NBA and NHL playoffs, as bettors’ winnings were large. These numbers reflect broader shifts in Nevada’s sports betting sector, as consumer behaviour evolves and the national market becomes increasingly competitive.
Revenue drops faster than betting volume
Nevada’s betting handle has declined for four months in a row, but the scene has evolved. However, the situation has altered as a result of the legalisation of sports betting in other states. Tourism continues to play an important role in Nevada’s economy, but convenience is driving betting habits elsewhere. As more individuals prefer speed and convenience, Nevada’s grip has lessened, especially during playoff seasons, which typically increase activity.
The drop in betting handle has been notable, but revenue has slipped even faster. In May, sportsbooks brought in $38.7 million, down 17.2 per cent compared with the same month last year. However, Nevada’s hold percentage came in at 7.1 per cent, more than a point lower than last May.
Nevada’s May data demonstrates a clear distinction between betting activity and sportsbook profitability. Bettors staked $545.7 million, but only $31 million was bet in May 2025. Nevada’s statistics for May show the relationship between handle, revenue, and hold. Bettors made $545.7 million in bets, thus generating $38.7 million in revenue and a hold rate of 7.1 per cent. Although the hold rate was decent, it was less than last year’s.
The decline reflected beneficial outcomes for bettors across major sports, reducing sportsbook margins despite high wagering volume. Hold percentages naturally fluctuate from month to month due to uncertain results.
Even though sportsbook revenue was down in May, Nevada’s tax collections were strong. In total, the state collected $2.6 million in taxes during the specified time period, bringing fiscal year receipts close to $38 million, or $6.3 million more than at the same period last year.
This resiliency stems from higher performances earlier this year. Sportsbook income for the fiscal year increased to about $562.4 million due to a 7.7 per cent win rate, which is significantly higher than the previous year’s pace. So, while May was disappointing on its own, the overall picture indicates stability.
Sport-by-sport revenue analysis
Basketball generated the most revenue in May, at $13 million. Despite reduced earnings for all bookmakers, total revenue rose by 3.9 per cent. Basketball’s success was driven by the NBA Playoffs’ non-stop action.
Baseball had one of its weakest year-on-year showings. Baseball generated $12.6 million in May, but that was down 41 per cent from the record highs of the same month last year. Baseball’s daily schedule offers consistent betting opportunities, yet outcomes are unpredictable, and underdog wins or betting trends can cut into margins.
Hockey fell much further, despite strong local support for the Vegas Golden Knights. The Vegas Golden Knights’ playoff run generated a lot of betting action, but it didn’t translate into profits for sportsbooks. Hockey income decreased to $1.5 million in May, down 69 per cent from the previous year. The reason was simple: the bettors kept winning. The Golden Knights finished 9- 2 during the month, with five of their victories coming as underdogs. As a result, many tickets paid out at plus money odds, reducing margins.
The “Other” category, covering football, tennis, golf, MMA, boxing, racing, and more, was a bright spot. It produced $13.7 million in May, up 28.6 per cent year on year. Bettors are increasingly drawn to international leagues, major tournaments, fight nights, and motorsports, showing how interest has expanded beyond the traditional big leagues.
Mobile betting continues to dominate
Mobile wagering contributed to 75.1 per cent of Nevada’s total handle in May. Sportsbooks via online gambling generated around $34 million in income, a 3.1 per cent decline year on year. While the drop may not appear to be significant, it clearly demonstrates that online gambling is not immune to outside effects. Growing competition from neighbouring jurisdictions, as well as rising consumer demands, have made things difficult. The obligation to register in person is a disadvantage for Nevada.
Retail sportsbooks posted $136.2 million in handle, down 12.2 per cent year on year. That marked the sixth straight month of decline. Visiting a Las Vegas sportsbook was once considered a signature experience, but convenience increasingly outweighs tradition. Bettors prefer opening an app rather than travelling to a casino and waiting in line.
Regional performance
Not every part of Nevada experienced the same level of decline during May. The state’s primary gaming regions faced distinct issues defined by tourism trends, local customer behaviour, and sportsbook performance.
Clark County remained the centre of Nevada’s sports betting industry, but sportsbooks in the region still reported a 15.8 per cent year-on-year decline in revenue during May. Because Las Vegas attracts millions of visitors annually, betting activity is heavily influenced by tourism trends, major sporting events, and convention traffic. While Clark County experienced notable declines, sportsbooks serving Reno and the Lake Tahoe region reported a 32.5 per cent year-on-year drop in profits.
Nevada’s sports betting sector is evolving rather than contracting. The state still has advantages, Las Vegas tourism, established casino brands, and experienced operators, but remaining competitive will necessitate change.
Modernising rules, such as in-person registration, could help Nevada keep up with other states, as digital betting remains dominant. Despite four consecutive months of decreased handle, fiscal year figures show sportsbooks remain profitable and tax revenues are solid.
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