Part 3: Nevada – a market with regulated pointers
Part 3
Nevada – a market with regulated
pointers
The excitement being generated by the US sports Nevada to help establish market positions in other
betting opportunity and the results from the first already regulated or soon-to-regulate sports
months of operation in New Jersey have somewhat betting states.
The nature of the Nevada sports betting market
obscured the fact that we have an example of how
a regulated market operates in Nevada. Nevada will hence be old news to these foreign invaders.
is the traditional lodestone for US sports betting But it is still worth emphasising some of the
under PASPA, even as it played second billing or characteristics of US sports betting that set it
lower within the operational and strategic plans of apart from Europe.
The most obvious feature is its seasonality. As
the US casino giants of the Las Vegas Strip.
can be seen from the month-by-month revenue
This historical second-class status perhaps
helps explain the somewhat unlikely dominance in performance of sport for the 12 months to
the sportsbook operational and supply spaces by, September in Chart 1, the variations by sport are
respectively, William Hill and GVC, the latter via necessarily extreme.
The heat map in Table 1 shows the peak months
Ladbrokes’ acquisition of sports betting backend
for each sport and shows how they almost – but
provider Stadium Technology back in 2012.
not quite — dovetail.
Both are already leveraging their positions in
Chart 1: Nevada sports betting GGY October 2017-September 2018
Sport/Period Oct-
17 Nov-
17 Dec-
17 Jan-
18 Feb-
18 Mar-
18 Apr-
18 May-
18 Jun-
18 Jul-
18 Aug-
18 Sep-
18
Football 15.8 10.9 23 7.9 -2.6 -10.3 -3.9 0.4 -0.3 0.4 6 41
5 6.7 11.1 15 11.6 35.8 8.6 9.3 -0.6 -3.2 -0.9 -0.5
Baseball 6.3 -11.5 -1.9 -1 -0.2 1.9 6.6 10.8 11.6 3.8 8.3 3.7
Parlay 4.9 2.2 0.5 0.4 0.5 3.8 1 0.1 1.7 0.1 0.4 5.8
Other -0.5 1.5 1.8 2.8 1.4 1 4 -0.1 7.8 2.9 -1.2 1.3
Aug-
18 Sep-
18
Basketball
Source: Nevada Gaming Control Board
Table 1: Peak months by sport October 2017-September 2018
Oct-
17
Football
Nov-
17 Dec-
17
Basketball
Baseball
Jan-
18
Feb-
18
Mar-
18
Apr-
18
May-
18
Jun-
18
Jul-
18
Source: Nevada Gaming Control Board
iGaming Business Market Monitor • December 2018
14