• About
  • Contact
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Bill Tracker
    • Tennessee
    • Delaware
    • Iowa
    • Mississippi
    • West Virginia
    • New York
    • Connecticut
  • MI
  • VA
  • NJ
  • PA
  • IN
  • IL
  • CO
  • Betting Tools
    • Sportsbook Bonuses Explained
    • Common Beginner Mistakes
    • Guide To ‘Risk-Free’ Bets
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Bill Tracker
    • Tennessee
    • Delaware
    • Iowa
    • Mississippi
    • West Virginia
    • New York
    • Connecticut
  • MI
  • VA
  • NJ
  • PA
  • IN
  • IL
  • CO
  • Betting Tools
    • Sportsbook Bonuses Explained
    • Common Beginner Mistakes
    • Guide To ‘Risk-Free’ Bets
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Las Vegas’ Sportsbook July Profit Drops, But ‘Money’ to Come

Brett Smiley by Brett Smiley
August 30, 2017
in Business
pro sports leagues sports betting attitudes have changed
Share on FacebookShare on Twitter

The Las Vegas sports books barely eked out a win this past July with a total hold of $524,000 on a $218,333,333 handle. The Nevada Gaming Control Board released its monthly revenue report on Wednesday.

The handle represents a slight $3 million dip from July of 2016, but a bite-sized win compared with the roughly $11.5 million that the books claimed last July.

The difference boils down to balls and strikes. Last July the books won over 7 percent on baseball wagers, compared with less than one percent (0.94) in this year’s frame. It’s possible the Los Angeles Dodgers are responsible for much of the damage: the 91-38 Dodgers went on an absolute tear in July, winning 20 of 23 contests following a 21-7 performance the month before.

Here’s a look at the July 2017, June 2017 and July 2016 figures for comparison:

  • July ’17 handle: $218,333,333 (win percentage = 0.24 for $524,000)
  • June ’17 handle: $294,341,373 (win percentage = 5.39% for $15.8 million)
  • July ’16 handle: $221,653,386 (win percentage = 5.02% for $11.5 million)

In general, July is a sleepy sports month with only Major League Baseball on the docket and the NFL, NBA and NHL in their offseasons.

Of course, the Las Vegas books had a humongous opportunity in August, thanks to the Floyd Mayweather-Conor McGregor boxing spectacle, which drew an incredible $85 million handle. The volume of bets on the underdog Irishman mixed-martial artist surpassed expectations even of experienced oddsmakers. Of course, “Money” Mayweather pounded McGregor in the later rounds and scored a 10th-round TKO, a result that favored the books.

Las Vegas Sportsbook Profits McGregor Mayweather

“We learned the public is more willing to overlook statistics and take a shot with a big payout,” Jay Rood, vice president of MGM Resorts race and sports, told ESPN Chalk. “I can see it at +700, but it was surprising at +300.”

That $85 million handle is on par with Las Vegas’ Super Bowl XLV between the Green Bay Packers and Pittsburgh Steelers, which drew about $87.5 million.

The August 2017 revenue report will reflect the big boxing victory. Meanwhile, bettors are plopping down NFL futures as the defending champion New England Patriots enter the season as a big favorite to repeat at odds about 3/1 currently.

ShareTweetShare
Brett Smiley

Brett Smiley

Brett Smiley is editor-in-chief and co-founder of Sports Handle, which joined forces with the US Bets team in November 2018. He focuses on the sports betting industry and legislation. He's an avid sports bettor himself, mainly on NFL and college basketball contests. In a past life, Smiley practiced commercial litigation in New York City and previously wrote for FOX Sports and SI.com. He lives in New Jersey with his family.

Related Posts

Vegas Upick Trade deal ended
Betting

NHL’s Vegas Golden Knights End Agreement With Tout Service After Intense Backlash

March 1, 2021
Photo courtesy ESPN/Caesars
Business

ESPN To Air Sports Betting Content From New Las Vegas Studio At LINQ Hotel In Las Vegas

August 24, 2020
Load More

Top Sportsbooks In Your State

1
Monkey Knife Fight
Rating / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
PrizePicks
Rating / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.

Get Email Updates

State Sports Betting Guides

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
February 12, 2021

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
January 22, 2021

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
August 25, 2020

nj flag

New Jersey Sports Betting — Sportsbook Bonus Offers, Power Rankings, And Wagering Info

by Brett Smiley
September 10, 2019

Most Read

  • pointsbet-illinois-temporary-approval

    Source: Sportradar Reaches Deal To Go Public Via SPAC

    0 shares
    Share 0 Tweet 0
  • Sportradar Now Valued Around $10 Billion, As SPAC Rumors Resurface

    0 shares
    Share 0 Tweet 0
  • Florida Sports Betting Simply Won’t Move Without Seminole Tribe

    0 shares
    Share 0 Tweet 0
  • Barstool Sportsbook Promotes Impending Entrance Into Illinois

    0 shares
    Share 0 Tweet 0
  • Nevada Governor Closes State Casinos For 30 Days Amid Coronavirus Concerns

    0 shares
    Share 0 Tweet 0

Problem Gambling

If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA/MI), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).

Subscribe

Search Sports Handle

No Result
View All Result
  • About
  • Contact

No Result
View All Result
  • US Sports Betting
    • Bill Tracker
    • Tennessee
    • Delaware
    • Iowa
    • Mississippi
    • West Virginia
    • New York
    • Connecticut
  • MI
  • VA
  • NJ
  • PA
  • IN
  • IL
  • CO
  • Betting Tools
    • Sportsbook Bonuses Explained
    • Common Beginner Mistakes
    • Guide To ‘Risk-Free’ Bets
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

Please share your location to continue