Nevada Continues To See Fewer And Fewer Options For Sports Bettors

Today, Nevada gamblers have less sports betting options compared to the beginning of the year. Despite the growth in the number of physical sportsbooks over the last two decades, the quantity of sportsbook operators keeps dwindling.

The UNLV Center For Gaming Research reported that Nevada had 165 sportsbooks in 2000. At the start of this year, the number had grown to 191, marking a modest 15% increase over the past two decades.

As the number of sportsbooks increases and operators decrease, the market becomes less appealing for bettors.

Casino and sportsbook consolidation

Once upon a time in Nevada, a sports bettor standing at the intersection of Flamingo and Las Vegas Boulevard could receive four different odds from four separate sportsbook operators. This was famously referred to as the “Four Corners” amongst sports bettors.

Today, a gambler can only obtain odds from two sportsbook operators at a single location. One set of odds is provided by BetMGM at Bellagio, while the other set is offered by Bally’s, Caesars Palace, and The Cromwell (which is currently closed).

Over the years, the casino industry in Nevada has seen significant consolidation. The majority of casinos on the Vegas Strip, for instance, are operated by MGM Resorts and Caesars Entertainment.

William Hill will soon oversee more sportsbooks in Nevada and the Vegas Strip than any other company, within a few weeks. Presently, it is assuming control of operations and setting odds for the books at Caesars.

Competition among Nevada sportsbooks is good for bettors

A number of reasons exist as to why competition benefits consumers. For one, it prompts businesses to either innovate or enhance their products and services. In the context of sports betting, this could lead to the development of superior retail and mobile sportsbooks.

When businesses vie for customers, they must outpace their competitors. Competition could lead to improved products and more favorable pricing.

Similar to how retail outlets reduce prices to outdo other stores, having more sportsbooks should result in improved odds, lines, and point spreads.

From September, sports bettors will have two less sportsbooks to look for lines. Gill Alexander from the Vegas Sports and Information Network (VSiN) further comments that, “the absence of competition reduces the motivation for sportsbooks to provide an excellent betting experience for the customer.”

Heightened competition doesn’t just benefit the customer. Enhanced products and competitive pricing often attract more consumers. The more individuals that spend money with a company, the higher its profitability should be. This applies to all sectors, from gambling to car purchases.

William Hill expansion

William Hill, a company that originated in England, is a fairly recent entrant to the Nevada market, having broken into the Nevada sportsbook scene in 2011. The company expanded its American presence by acquiring American Wagering (Leroy’s), Club Cal Neva sportsbooks, and Brandywine Bookmaking.

The Nevada Gaming Commission approved William Hill in 2012 to finalize the acquisitions and commence operation. Currently, William Hill manages over 100 sportsbooks in Nevada.

The company runs sportsbooks in the US across 10 states, Washington, DC, and also in the Bahamas.

Following a 2018 agreement with Eldorado Resorts, William Hill now runs sportsbooks at all Caesars Entertainment properties in Nevada. Just last month, Eldorado Resorts finalized a merger with Caesars.

During the weekend, the company affixed its signage to the iconic Caesars Palace Sportsbook. Throughout the week, the company began taking control of various Caesars sportsbooks operations.

William Hill is set to continue its expansion in Las Vegas after receiving approval to buy CG Technology from the Nevada Gaming Control Board. Provided everything proceeds as planned, the Nevada Gaming Commission is expected to endorse the recommendation on August 27.

According to a source close to the matter who spoke with Play Innevada, William Hill plans to start running the following CG Technology sportsbooks from September 1:

• Cosmopolitan
• The individual from Venice
• Silverton

The Palazzo, Palms, and Tropicana sportsbooks in Las Vegas, which are all CG Technology sportsbooks, are currently closed. However, these aren’t the only CG Technology sportsbooks in the city.

CG Technology once managed the sportsbook at the Hard Rock. The property is presently shut down and undergoing renovations to transform into the inaugural Virgin Hotel in Las Vegas.

New sportsbooks coming to Nevada

Due to the recent consolidation, sports bettors in Nevada are eagerly awaiting new sportsbook operators and betting options in the state.

In 2019, Circa Sports made its debut with a new app and satellite sportsbooks at the Golden Gate Casino and The D in downtown Las Vegas. The forthcoming Circa sportsbook is set to open in October at the Circa Resort and Casino.

MGM Resorts transitioned its sportsbook operation to its new BetMGM platform earlier this year. The new platform is not significantly different from the old one. BetMGM odds in Nevada are still produced in Las Vegas, a feature not shared by BetMGM in other states.

The previously mentioned Virgin Las Vegas casino will be operated by Mohegan Sun, as the company brings Betfred, a new sportsbook partner, to Nevada. In addition to managing the sportsbook at Virgin, Betfred will also introduce a new retail experience and a sports betting app.

This will provide gamblers in the state with a new venue to search for the best lines.

Looking for more sports betting options

In 2018, Boyd Gaming declared a partnership with FanDuel, a daily fantasy sports (DFS) and sportsbook operator. This announcement has intrigued Nevada sports bettors who are in search of fresh sportsbook alternatives, even if it means sacrificing an existing operator.

Boyd properties across the country are opening FanDuel sportsbooks. Despite this, Boyd still runs its own sportsbooks in Nevada. A simple rumor about FanDuel entering Nevada stirs up a frenzy of anticipation.

Play Innevada contacted FanDuel for a statement, and the company merely responded:

“This is not accurate.”

Further investigation reveals that Boyd Gaming is transitioning to the IGT platform. Interestingly, whether by coincidence or not, IGT and FanDuel broadened their collaboration earlier this month.

US sportsbooks outside of Nevada

Until the repeal of PASPA in 2018, Nevada was the only place where sports betting was legal. Once states were permitted to legalize sports betting, a host of new sportsbooks began operations.

FanDuel is one of many choices accessible outside of Nevada, but it is not available within the Silver State.

Those who enjoy sports betting and are seeking new possibilities in the future should monitor these US sportsbook operators that function beyond Nevada:

• FanDuel
• DraftKings
• PointsBet
• SugarHouse/BetRivers
• 888
• 365 Bet
• America Bet
• Score
• Intralot
• Unibet
• USBookmaking

Legal US sportsbook operators are just beginning to scratch the surface. It is anticipated that more operators will commence operations beyond Nevada before the year ends.

Penn National Gaming, for instance, which operates M Resort and Tropicana, is anticipated to initiate its Barstool Sportsbook in Pennsylvania this upcoming September.

The increase in the availability of sportsbook operators in Nevada is beneficial for consumers. New operators should provide Nevada sports bettors with a wider array of betting options and mobile apps.