Sportsbooks in Nevada go down by $6.6M

Although it is a fact that Las Vegas managed to win the Stanley Cup after defeating Florida, it was the sportsbooks in Vegas that incurred a loss to the tune of $6.6 million in June 2023. The Golden Knights were responsible for defeating their opponents following being in the game for the past six years.  

As per the information released by the Nevada Gaming Control Board, the loss incurred by sportsbooks happened ever since Nevada decided to go in for keeping track of hockey sometime in January 2020. It has been a little over three and a half years, but the state has never experienced a greater loss than this. Nevada casinos have been known to earn winnings anywhere between 4 to 6% on sports betting sites on a monthly basis. For June, the winning rate was 1.98%, as per Fawkes. 

According to a senior economic analyst of the Nevada Gaming Control Board, Michael Lawton, who spoke to The Los Angeles Times in the field of sports betting, the loss is seemingly humongous.

In June 2023 itself, Nevada witnessed a total amount of $323 million that went towards betting on hockey. The major amount of this went in favor of the local team, Golden Knights. It also happened that the total of five games that were played out with regard to the Stanley Cup finals was in June. This month, sportsbooks managed a winning a lowly figure of $9.5 million only. As per Ben Fawkes, who is a gambling reporter, the figure, when compared to the previous year, saw a decline to the tune of 60%.