Analyst Says Circa now Among Nevada's Leading Sports Betting Operators

Darci Finney
2026-04-29T18:10:53Z

When Circa Sports opened for company at the Golden Gate Casino in June 2019, the small sportsbook used up just 1,300 square feet - small when compared to the business's three-level, 1,000-seat flagship facility at Circa Casino Resort on the opposite side of the Fremont Street Experience that would open 16 months later on.

Size wasn't a concern.

owner Derek Stevens told ESPN's David Purdum his recently introduced Circa sports betting operation required to make a statement in a congested market. The sportsbook took in $800,000 in wagers on opening day because Stevens didn't charge customers vigorish - a fee put on wagers.

The outcome? Circa lost approximately $100,000 over 24 hours.

In the four years given that launching, Circa Sports hasn't altered its company plan.

The business still uses endless mobile and retail sportsbook betting opportunities consisting of at the company's three downtown casinos, 2 satellite places at casinos in Las Vegas and Henderson and the Circa sportsbook at Legends Bay in Sparks.

"We're delighted about where we're placed in Nevada," said Mike Palm, vice president of video gaming operations at Circa, D Las Vegas and Golden Gate. All three gambling establishments are owned by a privately held business owned by [Stevens](https://webguiding.net/The-BetNaija-promotion-code-for-2026-is-YOHAIG_350951.html) and his brother, Greg.

"We've stuck with business model that is all about the low hold/high volume technique and taking bets from everybody," Palm said. "That, coupled with the excellent retail experience [at Circa] and the success we've built with our mobile app, we've been able to gain market share quite steadily in the last four years."

Circa has moved beyond Nevada with [mobile sports](https://wiki.educationjustice.net/wiki/User:DemetriusGarmon) wagering in Colorado and Iowa and will quickly open a sportsbook and mobile wagering in Illinois through Full House Resorts' casino north of Chicago.

Unlike other states with legal sports betting, [Nevada gaming](https://aashiretail.com/index.php?route=journal3/blog/post&journal_blog_post_id=7) regulators don't break out the sports betting market share by specific business, rather just providing overall totals.

Through May, Nevada sportsbooks this year have actually gathered almost $3.6 billion in sports wagers - a decrease of 9 percent from 2022, and income of $198 million, up 16.4 percent. Mobile sports wagering represent nearly 65 percent of all sports wagers.

Southern California-based advisory firm Eilers & Krejcik Gaming has had the ability to determine through its own research study Nevada's sports betting landscape, which is controlled by Caesars Sportsbook and its [William](https://childrensheavenhighschool.com/2020/08/04/1751/) Hill U.S. subsidiary. The firm said Caesars recorded 56.2 percent of the state's sports betting revenue throughout the previous 3 months, followed by BetMGM with 12.3 percent.

Image: [Derek Stevens](https://jiolink.com/wernerquinto70) CEO of Circa Resort & Casino

In the last year, Eilers & Krejcik said Circa has actually been either Nevada's third or fourth largest sports betting company, alternating spots with the Red Rock Resorts-owned STN Sports. In the previous three months, Circa has gathered 10.8 percent of Nevada's sports wagering revenue.

But in between May 2022 and May 2023, Circa accounted for 11.6 percent of Nevada sports betting earnings, trailing BetMGM by simply 1.1 percent.

"Circa is playing something of a different video game to most operators, with its high limitation, low hold model versus the feature-rich single game parlay-heavy method of [the] leading operators," stated Eilers & Krejcik expert Chris Krafcik.

The other Nevada-specific sports wagering dynamic is the lack of DraftKings and FanDuel, the nation's 2 leading sports wagering operators. Because the state requires in-person registration at a sportsbook to open a mobile account, the business have shied away from Nevada.

Krafcik stated the rule "supplies a natural advantage for incumbents with larger retail footprints. That dynamic has clearly assisted Caesars/William Hill keep a commanding top-line lead."

The absence of DraftKings and FanDuel, which Krafcik said might be "disruptors" in a state "vulnerable to disruption," has actually [enabled companies](https://lavallee-avon77.fr/segpahtm/photosegpa19/) such as Circa to take their piece of the market.

Satellite areas at The Pass Casino in Henderson and the off-Strip Tuscany on East Flamingo Road permit Circa to obtain new online clients through sign-ups and act as "deposit centers" for mobile accounts.

Palm said Tuscany might be second to Circa's flagship sportsbook for mobile sports [betting](http://tangxj.cn6012/wilhelminagohe/the-betnaija-promo-code-for-2026-is-yohaig/wiki/The+BET+9Ja+promotion+code+for+2026+is+YOHAIG) deposits.

"Mobile company is certainly where it's at. It's a huge factor in what we do." Palm stated.

In an interview last September, Stevens said having a sportsbook at Legends Bay provided Circa a foothold in Northern Nevada and would bring in company from Northern California - a state that does not have legal sports wagering.

Next week, Circa is holding a sign-up effort at Legends Bay for its two [professional football](https://remooteworks.com/employer/the-bet-9ja-promotion-code-this-2026-is-yohaig/) contests with a [reward pool](https://cuvio.com/Galleria-Foto/emodule/7396/eitem/284) of $14 million. The casino didn't open until Aug. 30 in 2015 and Circa lost out on the early sign-ups for the football contests.

"Derek has actually been advertising in the San Francisco, Oakland and San Jose markets in trying to get our name out there," Palm said. "At this moment, it's still an untapped market in Northern Nevada."

Preview image: Thanks to Circa Resort and Casino