Nevada sportsbooks raked in $46 million last March, a stunning 107 percent jump from the year before. The secret? A hold percentage that soared to 6.0 percent on $763 million in wagers. Bets fell 11 percent year over year, but March Madness turned the tide for casino operators.
Basketball dominated the action. Upsets in the NCAA tournament meant favorites lost more often, boosting sportsbook profits.
Statewide gaming win hit $1.42 billion, up 11.8 percent from March 2025. On the Las Vegas Strip, total win climbed 14.4 percent to $780 million. Games like blackjack saw holds at 15 percent.
Sportsbooks grabbed $46 million statewide, more than double last year’s take. The Nevada Gaming Control Board reported this on April 30. Hold doubled from 2.6 percent, thanks to tournament chaos.
Analysts point to fewer top seeds reaching deep runs. This favored the house.
Handle Dips as Trends Shift
Total wagers dropped to $763 million, down $97.6 million from $860.6 million. This marks the third straight month of year-over-year declines in 2026.
Mobile bets led the pack at $550.4 million. That is 72.1 percent of all action, but down 10.1 percent. Retail held steady in share.
Why the slip? Fewer visitors to Las Vegas played a role. Prediction markets like Kalshi drew some bets away until Nevada won a late March ban.
Hockey and other sports helped offset, but football futures caused a $9.6 million loss.
Basketball Bets Lead Revenue Charge
Here is the sports breakdown from the Gaming Control Board data:
| Sport | Revenue (millions) | Year-over-Year Change |
|---|---|---|
| Basketball | $36.8 | +50.2% |
| Other | $8.5 | +29.8% |
| Hockey | $6.1 | +501% |
| Football | -$9.6 | -6.6% |
Basketball crushed it with conference tournaments and March Madness. This category alone drove 80 percent of sports revenue.
Online operators pulled $36.7 million, up 135 percent. Taxes from sports hit $3.1 million.
Clark County mirrored the state at 5.9 percent hold. The Strip and downtown saw gains in overall gaming.
Regional Markets Show Mixed Results
- Las Vegas Strip: Gaming win up 14.4 percent to $780 million.
- Downtown Las Vegas: Up 20.8 percent to $103.1 million.
- Boulder Strip: Up 14.7 percent to $98.9 million.
- Washoe County: Sports handle down 8.9 percent, but hold at 7.5 percent.
South Lake Tahoe jumped 19.7 percent. Elko bucked trends with a 4.8 percent drop.
Baccarat on the Strip exploded 108 percent to $152.5 million at 20.1 percent hold. Slots stayed strong everywhere.
Nevada stays the betting capital. Bettors flock for live action no app matches.
Mobile Betting Rules the Day
Apps handled most volume. This trend holds as convenience wins out.
Retail sportsbooks thrive on tournament crowds. Vegas buzz pulls in tourists.
Operators eye Super Bowl 2029 hosting. Past events set records.
Prediction market win eases worries. Houses focus on core strengths.
Nevada sportsbooks proved resilient in March. Profits soared on smart holds during March Madness, even as bets dipped. This boosts jobs and taxes, but bettors face tougher odds in big events. Fans and locals feel the Vegas pulse stronger.
