January 2023 A Strong Month For Nevada Gaming Revenue

Nevada gaming revenue in January picked up where 2022 left off and then some. Casinos throughout the state won $1.27 billion, according to the monthly report from the Nevada Gaming Control Board. This was a whopping 18% increase from last year. It also marks the 23rd consecutive month that Nevada casinos took in more than a billion dollars.

As usual, revenue from slot machines led the way. Nevada casinos collected $874.5 million from slot machines. While sportsbooks took $935 million in wagers, they only won $50.4 million. This was a small 1% increase in revenue from last year.

The Vegas Strip showed an even larger increase from last January. Gaming revenue on the main tourist corridor was $713.2 million. This was a 25.7% increase from last year. Downtown Las Vegas casinos saw a similarly large increase in gaming revenue. The casinos in “Old Vegas” won $84.9 million. That was good for a 25.45% increase.

How people gambled in January

Nevada online gambling does not include gambling at casino sites. The law only allows for online poker and online sports betting. As the gambling capital of the world, Nevada lawmakers should consider changing this in the near future.

Nevada gaming revenue follows a similar script every month. Slot machines usually dominate gaming revenue, while other popular games occupy a large middle. Slot machines include video poker, video keno and other video gaming machines. These games dominate the casino floor. Additionally, bar-top games are considered slot machines and this adds to their ubiquity in casinos today.

The vast majority of slots in Nevada today are big, bright and loud penny slots. These games accounted for $285.9 million of the $874.5 million casinos won from slot machines in January.

Blackjack is the most popular table game in Nevada casinos. In January, there were 1,949 blackjack tables in casinos in Nevada.

Baccarat sometimes challenges blackjack in monthly revenue despite having far fewer games. In January, there were 405 baccarat tables in Nevada casinos. The difference in revenue is made up when international high rollers visit Nevada to play baccarat.

Gaming revenue in January was up for all casino games in Nevada. Here’s how much they collected from players in January:

• Blackjack: $120.1 million
• Baccarat: $89.9 million
• Sports betting: $50.4 million
• Roulette: $46.2 million
• Craps: $39.7 million

February could bring changes to the top of this list, as many international visitors who prefer baccarat come to Las Vegas for Lunar New Year.

Nevada sports betting in January

Gambling in Nevada is different than in most states in the country due, in part, to the mix of tourists and residents. This can be seen in sports betting revenue that is often dwarfed by other casino games.

Nevada sports bettors placed $935 million in wagers in January. Casinos held 5.39% for a win of $50.4 million.

Nevada sports betting is particularly different than states that have legalized sports betting after the repeal of the Professional and Amateur Sports Protection Act.

For example, Ohio sportsbooks held 20% of all wagers placed during its first month of legal sports betting. This is almost four times how much Nevada sportsbooks held for the month thanks to much larger betting menus, remote account registration and promotions from the operators.

In January, 62% of all Nevada sports bets were made on a mobile device. For comparison, many of the states newer to legal sports betting take around 90% or more of wagers online or via mobile devices.

While Nevada sports betting has fewer bells and whistles, players don’t lose nearly as much by percentage as other states that offer poor returns akin to Nevada’s penny slots.

Don’t be surprised to see a dip in sports betting revenue when February data is officially revealed. Not only did the Caesars and William Hill apps go down during the Super Bowl, but the initial revenue and hold numbers were reported incorrectly and lower than last year.