How much do SportsBooks make?
The only reliable data we have on how much money sportsbooks make comes from the legal sportsbooks in the state of Nevada.
Nevada Sportsbooks Handle, Profit, & Hold by Year (2005–2014)
For each year in the infographic below you’ll see a handle, profit, and hold.
The handle is simply the amount of money bet at the sportsbook. Other than 2008 and 2009, sportsbooks have steadily seen an increase in the volume of bets they have been taking. The decline in wagers is most likely linked to the economic crisis in 2008 and 2009.
Even with those lower numbers, books have seen a yearly average of $3.36 billion in wagers every year for the last ten years.
The profit column shows how much all Nevada sportsbooks combined made through sports betting in that year. You will notice that higher profit doesn’t always correlate with a higher handle, and that’s due to a change in the hold.
Nevada’s sportsbooks have profited an average of $236.81 million each year over the past ten years.
In the world of sports wagering the hold is the percentage of winnings in relation to the amount of money that has come in. In other words, the percentage they holdonto after all bets are settled.
The sportsbooks in Nevada have enjoyed an average hold of 7.13% over the last decade.
It’s hard to keep in perspective that this is only the money coming into sportsbooks in Nevada. Between offshore betting and local bookies, the sheer volume of bets out there on sports has to be astronomical. Other states have started pushing for legalized sports betting in their casinos and these numbers make it easy to see why. In the meantime, it’s a very good time to be a sportsbook in Nevada!The original post and inforgraphic is from BoydBets.com
While data is from 2014, we’ll be publishing a lot more information that will help share all the research we’ve put into the numbers behind this vast industry, and possibly help provide insight into what Lucre aims to achieve and how we want to do it.
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