iGB examines the performance of Nevada, Colorado and Connecticut in May by analysing their latest monthly US state reports.
In Nevada, sports betting revenues for May topped 36 million dollars. This is an increase of 19.8% over last year. Online gambling (up by 23%) was responsible for 63.4% all of the revenue from sports betting. The overall handle fell 2.3% from the year before.
Basketball betting generated $17.2m of revenue during this month, as the NBA Conference finals and semi-finals were played. Baseball, which is the MLB season, generated an additional $11.2m, while ice hockey brought in $3.4m. Another $7.8m in revenue was generated by other sports.
Nevada saw overall revenue climb 2.3% to $1.32bn (PS1.04bn/EUR1.23bn).
In May, gaming revenue in Nevada surpassed $1.29bn for the first time since last year. This ended two months of consecutive declines year-on year.
Slots generated the highest revenue in land-based gambling, with $886.1m. This is an increase of 1.0% from last year. The revenue from multi-denomination slot machines grew by 19.5% to $599.1m, while penny slots revenues fell 26.9%, reaching $207.8m.
Other revenue sources, such as table games, card and counter games, sports betting, rose 5.6%, to $434.3m. Baccarat generated most of the revenue in this segment, at $126.4m. However, this is down 5.5% from last year.
Blackjack, at $116.8m (up 11.4%), and Roulette, which saw revenue increase 45.9%, to $44.1m, were also important revenue sources.
Colorado revenues and handling rise in May
Colorado’s sports betting revenues increased 43.3% from last May to $45.0m, compared with $31.4m.
Retail betting accounted for only 0.05% (20,381) of Colorado’s total revenue.
In May, the player spending in Colorado was $447.6m. It is 16.2% more than the previous year. $446.0m was bet on-line and $1.6m in retail.
Basketball was the most popular sport in Colorado, attracting a total of $147.5m. Baseball handled $92.3m in bets, tennis $25.5m and ice-hockey $24.2m.
Connecticut breaks online gambling records
Connecticut’s online gambling market reported record revenues and expenditures in May.
The revenue for May was $46.3m. This is 4.5% higher than the previous monthly record. Total revenue for May was 41.3% higher than the previous month. The amount spent on online casino reached a record high of $1.3 billion, which is far more than the contribution from sports betting.
DraftKings, along with its Foxwoods partner the Mashantucket Pequot Tribe, drove the revenue growth, accounting for $21.6m, while FanDuel, Mohegan, and other operators accounted for $17.7m.
The total betting revenues were $17.1m, 14.8% more than the previous year. This total ($16.2m), which is a majority, came mostly from online betting. The remaining amount was from retail.
FanDuel, Mohegan and DraftKings were the leaders in sports betting with a combined revenue of $8.4 million. Fanatics added $1.1m after replacing Rush Street Interactive to provide the Connecticut Lottery with its sportsbook.
Total handle in May reached $163.6m. This is a 49.6% rise over last year. Online, bets totaled $155.6m.
South Dakota’s revenue is on the rise
Total gambling revenues in South Dakota increased by 2,4%, to $12.8m. The total handle of the market reached $140.6m. This represents an increase by 1.7%.
South Dakota doesn’t publish revenue breakdowns by type of gambling or games. The state does provide information on the amount of money that players spent in different areas.
Table game bets increased by 10.3%, to $7.8m. Slot machine spending was down 1.2% at $132.1m. Sports betting handled – which is limited to wagering in person – fell 6.3% for the month of May to $495.490.
