December proved to be a bountiful month for Nevada sportsbooks, reporting over three times the profits from last year, but the overall handle revealed a precipitous dip in activity from the previous month.
Mixed Results
Making money is the name of the game in any business, and bookmaking is no different. According to the Nevada Gaming Control Board, December profits from the Silver State’s retail and mobile sportsbooks posted a towering hold (win rate) of 9%, which led to a stunning 352% increase over December 2024.
The $67.6 million in December profits dwarfed the $15 million made last December when the sportsbooks recorded just a 1.8% win rate. Mobile sports betting accounted for 72% of the handle, registering $42.6 million of the $67.6 million in profits for the month.
It was unhappy news for Nevada’s sports bettors but more than welcome by the state’s retail and mobile sportsbooks in a year that saw a steep decline in tourism to Sin City. Despite the spiraling profits due to the lofty 9% hold, the December data also revealed a 9.1% drop in the handle from November’s.
Nevada sportsbooks reported a combined $140 million in profits in November and December 2025, which was the highest two-month span since September-October 2023. Football results were firmly in the sportsbooks’ favor this year, producing $40 million in profits this December compared to a losing December last year.
Tourism Malaise
The Las Vegas Convention and Visitors Authority (LVCVA) reported 35.4 million tourists traveled to Las Vegas and the surrounding area in the first 11 months of 2025, which was a 7.4% decline compared to the same span in 2024.
Despite those underwhelming numbers, Nevada sportsbooks posted an $8.07 billion sports betting handle for 2025, an increase of 2% from 2024’s handle. Meanwhile, revenue reported a sharp increase of nearly 25% to more than $601 million due to a much higher hold. The state received over $40 million, despite one of the lowest sportsbook tax rates in the nation, at 6.75%.
Causes Of The Tourism Slowdown
The LCVA blamed at least part of the tourism dip on government barriers for foreign visitors, like the newly-implemented $250 Visa Integrity Fee that is designated for residents of specific countries when their residents visit the United States.
“Las Vegas is often a reflection of the broader U.S. economy,” LVCVA wrote to The Center Square. “Because we operate at high volume across every consumer segment, shifts in spending and behavior tend to surface here first.”
Others blame the spiraling costs of lodging, food, beverages, and entertainment, along with the obligatory resort fees that many hotels add to the bill at the end of one’s stay. Moreover, Las Vegas, and Nevada in general, no longer hold a monopoly on casino gaming and sports betting, which many believe has also contributed to the city’s reduced appeal.
Major Events Could Boost 2026 Tourism
Yet, 2026 will see many notable events, like the return of Formula 1’s Las Vegas Grand Prix along with World Cup events and even WrestleMania 42, which should attract millions of tourists. Nevada’s hospitality and gaming industries are counting on it.
