South Dakota Gambling Revenue Faces November Downturn

South Dakota’s gambling sector witnessed a notable decline in November 2024, with monthly revenues falling to approximately $10 million. This marks an 11.5% reduction compared to November 2023’s $11.2 million. The drop was even more pronounced month-over-month, with November’s earnings declining by 27% from October 2024. These insights, reported by the South Dakota Department of Revenue, highlight contrasting trends across different segments of the gambling market.

Slot Machines Continue to Dominate

As in previous months, slot machines remained the dominant force within South Dakota’s gambling industry, ing for nearly 88% of total revenue in November. However, their performance reflected the sector’s overall decline, as slot handles reached $96.7 million, down 13.55% compared to November 2023.

Adjusted gross revenue from slot machines totaled approximately $8.75 million, with one-cent slot machines standing out as the largest contributors. Generating over $7.59 million in earnings, this denomination reinforced its consistent popularity among players. Despite their dominance, these figures reflect a broader downward trend in slot revenue.

Other denominations showed varied performance, with significant contributions from five-cent slots, which earned $86,315, and dollar slots, bringing in $420,116. Overall, the average payout rate for slot machines in November was a relatively high 90.95%, offering players substantial returns even amid revenue drops.

Sports Betting Experiences Significant Recovery

In contrast to the overall downturn, sports betting presented a bright spot for South Dakota’s gaming industry in November. Revenues from sports wagering experienced a substantial rebound, surging to $145,000 after reaching a meager $46,000 in October 2024. This recovery represents a remarkable 191.8% year-over-year increase from November 2023.

The total handle for sports betting stood at approximately $1 million, with major revenue contributions coming from popular events such as NCAA football and basketball. For instance, NCAA football bets ed for a statistical win of over $82,000, while NBA wagers generated approximately $18,535 in revenues. Despite these contributions, the overall average payout rate for sports bets was 85.47%, signaling favorable outcomes for many players.

While slot machines and sports betting captured much attention, table games offered consistent contributions to November’s totals. Revenue from table games sured $1 million, with blackjack emerging as the most profitable, contributing $425,112. House-banked poker followed closely, adding $347,251 in statistical win. Other table games, including craps and roulette, made smaller yet noteworthy contributions to the monthly revenue figures.

Craps generated $139,344 in earnings, while roulette added approximately $54,701. Despite their relatively lower revenues compared to slots and sports betting, table games remain an integral part of South Dakota’s gambling portfolio, maintaining their appeal among diverse groups of players.

Broader Trends and Tax Distribution

The revenue collected in November contributed to the state’s tax fund, which distributes gambling taxes to various programs. With over $853,000 in taxes generated from gambling revenue in November, these funds play a vital role in ing state infrastructure, tourism, and community initiatives.

South Dakota’s gaming industry has showcased resilience despite ongoing fluctuations across segments. November’s report reflects the sector’s dynamic nature, with contrasting performances underscoring the complexities of the state’s gambling market.

Source:

”South Dakota Gaming Statistics Monthly Summary”, dor.sd.gov.