Nevada Sportsbooks Suffer First Losing Month In 7 Years

Nevada sportsbooks had a losing month for the first time in seven years: Sports bettors took a combined $483,000 in profits from books across the state in June, according to the Nevada Gaming Control Board.

June ends a streak of 83 consecutive winning months for the state’s sportsbooks. Nevada last had a losing month in July 2013, when the betting public raked in a total profit of $548,000.

Only $78 million were bet on sports at Nevada sportsbooks in June. That’s down from $322 million a year ago.

Nevada made nearly $16.6 million in profits from sports betting in June 2019 and $20.1 million in June 2018.

Even though professional football has been on hiatus since the winter, the sport was largely responsible for the state’s poor month. Sportsbooks lost $5.26 million on football, according to figures released Wednesday. Tickets were cashed in June for bets that had been made months earlier.

Mobile betting continued, but physical sportsbooks were closed for just about all of April and May.

Nevada sportsbooks' June loss was driven by more than $5.2 million in outstanding football wagers that were cashed over the counter in June. Essentially all physical sportsbooks were closed for April and May.
— David Payne Purdum (@DavidPurdum) July 29, 2020

The most recent National Football League season concluded with the Super Bowl on Feb. 2, a few weeks after college football ended. The XFL, a start-up football league, halted played in March after five weeks and never returned.

Most professional sports leagues were still paused in June, giving bettors fewer chances to lose money. Professional baseball, Major League Soccer, and both men’s and women’s basketball all returned in July.

Nevada casinos made $174.7 million on penny slots, $54.5 million on blackjack and $19.9 million on craps in June.