Nevada sportsbooks had a strange but profitable March, taking less in bets but keeping far more of the money that crossed the counter.
Sportsbooks Win More from Less Action
Nevada sportsbooks booked $46 million in March revenue, up 107% from $22.3 million a year earlier, even though betting volume moved the other way. Statewide handle fell to $763 million, down 11.3% from $860.6 million in March 2025. The difference came down to hold: operators kept 6.0% of wagers this March, compared with just 2.6% last year.
Mobile betting stayed in charge, but it also lost some steam. Online and app-based wagers reached $550.4 million, down 10.1%, while still making up 72.1% of all Nevada sports betting handle. That matters because Nevada remains more retail-heavy than newer online-first states, mostly thanks to its in-person registration rule. For the average bettor, it is a reminder that Nevada still plays by old Vegas rules, even when the betting itself happens on a phone.
Basketball Carries the Book
March Madness did exactly what sportsbooks wanted this year. Basketball produced $36.8 million in win, making it the top earner by far. Hockey added another lift, while the “other” category, which includes sports such as tennis, soccer and MMA, also helped pad the month. Football was the ugly line item, with operators losing $9.6 million as remaining NFL payouts landed after the season wrapped.
That is the fun and occasionally brutal math of sportsbook revenue. Bettors can wager less overall and still lose more if results land the wrong way. March was not a monster month because Nevada found a wave of new customers. It was a monster month because the books got a better run of results.
Casinos Enjoy a Wider March Rebound
Sports betting was only part of a very strong month for Nevada gaming. Statewide casino win hit $1.427 billion, up 11.78% from March 2025. The Las Vegas Strip generated $780 million, up 14.43%, while downtown Las Vegas climbed 20.78% to $103.1 million.
Table games did much of the heavy lifting. Statewide table, counter and card game win reached $457.1 million, up 27.9%, while slots added $969.8 million, up 5.5%. On the Strip, baccarat had a huge month, with CDC Gaming reporting $152.5 million in baccarat win, more than double last year’s figure, helped by a stronger hold and higher volume.
Events Helped Fill the Room
The broader Las Vegas calendar gave casinos plenty of foot traffic to work with. The Las Vegas Convention and Visitors Authority reported 3.45 million visitors in March, up 1.9% year over year. Convention attendance rose to roughly 712,000, helped by events including CONEXPO, NASCAR’s Pennzoil 400, college basketball tournaments and March Madness.
That rebound is useful context because Las Vegas entered 2026 carrying some tourism baggage. Reuters reported in February that the city saw a sharp 2025 visitor decline, with softer leisure travel, fewer airport passengers and more pressure on budget-conscious travelers. March did not erase those worries, but it gave casino operators a cleaner-looking month on the scoreboard.
Prediction Markets Add a New Headache
The drop in handle is getting attention because it is not just a one-month quirk. Wagering volumes have now declined year over year in each of the first three months of 2026, according to the World Casino Directory report. Analysts and sportsbook executives have pointed to prediction markets as one possible drag, with platforms such as Kalshi drawing scrutiny in Nevada.
Nevada has been pushing back hard. A legal ruling in late March restricted certain prediction-market activity tied to sports contracts in the state, as regulators argue those products look too much like unlicensed sports betting. For regular online casino and sportsbook players, the fight is worth watching because it could shape where sports-style wagers are allowed, who gets to offer them and how tightly they are regulated.
Tax Collections Get a Lift
The strong March win also helped state coffers. Nevada collected $93.0 million in percentage fees in April, based on March taxable gaming revenue, up 17.24% from the comparable period last year. Fiscal-year-to-date collections reached $868.8 million, up 3.04%.
So, yes, Nevada sportsbooks took fewer bets in March. They also made more money. That is great for operators and the state. For bettors, it is the monthly reminder nobody particularly enjoys: handle tells you how much action there was, but hold tells you who left smiling.
