November’s sports betting numbers revealed surprising gains in revenue and handle, which is a relief for those operators who have seen tourism lag at the nation’s gambling mecca.
November to Remember
Nevada’s combined November handle and revenue of online and retail sportsbooks was welcome news, as the data reveals a $908.1-million handle, of which $72.9 million in revenue was generated. Revenue increased 7.9% from last November, and the handle was up over 8.4%, which made November 2025 the best in nearly two years.
Moreover, November’s sportsbook handles eclipsed October’s by 63%, which is understandable considering that the NHL and NBA schedules are in full swing in November and football action begins heating up as the NFL and college football seasons progress. The addition of Formula One’s Las Vegas Grand Prix shortly before Thanksgiving only added to the wagering activity.
Retail Sportsbooks Still Play a Key Role
Nevada’s online versus retail sports betting handle and revenue are not as monumentally disproportionate as in other markets throughout the nation due to the abundance of brick-and-mortar sportsbooks in the Silver State.
Nevertheless, mobile sports betting in Nevada accounted for over 72% of all the state’s wagers in November, generating a $654.7-million handle, which was an 11.8% year-over-year increase, while revenue was up 16% to $47 million during the same time. The sportsbooks’ combined 8% hold was roughly the same as last year, but it was the fourth-highest registered in 2025.
Although the yearly handle has lagged from 2024’s receipts, it should be noted that Nevada’s yearly hold of 7.2% through November is slated to be the highest since PASPA was overturned in 2018, the year that licensed sports betting began in states that have chosen to permit it. Therefore, although the yearly handle is down, the revenue has increased, with December’s numbers still not available to complete the yearly financial picture.
Tourism Expected to Rise in 2026
Tourism, or lack thereof, has been a hot-button topic in Nevada, with many industry insiders blaming the alarming rise in prices ranging from parking to beverages to food and entertainment.
The operators of the glimmering resort casinos on the Las Vegas Strip have been blamed for being too greedy, while others have noted that Sin City’s gambling monopoly is no longer as dominant, considering the bumper crop of casinos springing up throughout the country and the advent of mobile sports betting in markets other than Nevada.
However, the doom and gloom is expected to be short-lived after the Center for Business and Economic Research at UNLV released a study forecasting tourism to increase in 2026 with a projected 39 to 40 million visitors traveling to Las Vegas.
International Travel Shows Promise
The recently concluded “Gov-Con 25” conference in Reno, organized by Travel Nevada, an arm of the state Division of Tourism, projected that international travel will greatly assist tourism in 2026 due to an easing of travel visas.
Connie Chan, of National Park Express and Canyon Coach Lines in Las Vegas, is optimistic about tourism in 2026 to Las Vegas, stating, “I feel very excited. I feel great. Yes. Travel Nevada actually put offices in Canada, New Zealand, and also Taiwan to promote Nevada tourism, which is very exciting.”
