iGB Intelligence reports iGB Market Monitor December 2018 | Page 17

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