Nevada Sports Books Clobbered By Baseball In AprilWinnings From Start To 2018 Season Down 35 Percent Y-O-Y |
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April was a fine month overall for Nevada sports books, but the first month of the 2018 Major League Baseball season did not go very well.
Nevada’s 190 sports books won a combined $6.5 million from baseball during April, according to state figures made public Thursday. The winnings were down a whopping 35 percent compared to the $10.1 million won off of baseball bets in April 2017.
The winnings were down despite the amount bet on baseball growing year-over-year. Gamblers bet $125.1 million on baseball last month, up 4.6 percent compared to the $119.5 million bet the previous April. In other words, gamblers made wiser wagers this time around.
While the start to the season was rough for the books, baseball winnings are up over the past 12 months. Over the year prior to May 1, 2018, the books won $35.9 million from the game, up 6.5 percent compared to the same period a year prior.
Total sports betting revenue for April was $16.3 million, up 8.1 percent year-over-year. The primary reason was basketball. The books won $8.6 million from bets on that game, up a whopping 123.5 percent year-over-year.
Earlier this month, the U.S. Supreme Court ruled to allow all states to have sports books. The sports betting market is expected to grow to as much as $6 billion by 2023.
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