Home NewsSports Betting US May Round-up: Strong Month for Nevada; CO Handle up 16.2% Icasino Shines in CT

US May Round-up: Strong Month for Nevada; CO Handle up 16.2% Icasino Shines in CT

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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 surpassed $36m. 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 $17.2 million in revenues 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 $1.29 billion for the first time since last year. This marked a turnaround from two months consecutively of declining year-on year revenues.

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 accounted for $599.1m, an increase of 19.5%. However, penny slot machine revenue fell 26.9%, to $207,8m.

Other revenue sources, such as table games, card and counter games, sports betting and other casino activities, increased by 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 a record amount of revenue and expenditure 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, topped the list in terms of revenues, accounting for $21.6m, followed by FanDuel, Mohegan, and FanDuel on $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 primarily from online betting. The remaining amount was generated by retail.

FanDuel, Mohegan and DraftKings were the leaders in sports betting with unadjusted revenues of $8.4m. Fanatics added $1.1m after replacing Rush Street Interactive to provide the Connecticut Lottery with its sportsbook.

Total handle in the May market was 163.6m dollars, an increase of 49.6% 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 – limited only to those who bet in person – fell 6.3% for the month of May to $495.490.

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