Vegas Golden Knights made Nevada bookies lose $6,600,000 by lifting 2023 Stanley Cup

The Vegas Golden Knights achieved a historic milestone in June by clinching their first Stanley Cup title. However, their triumph came at a significant cost for Nevada's sportsbooks, resulting in a staggering $6.6 million loss in hockey wagers for the month.

This marked the largest monthly loss in hockey since the state began tracking the category in January 2020, leaving bookmakers reeling from the impact.

The primary reason for this substantial loss was the overwhelming support from Nevada bettors for their local team. During June, as the Stanley Cup Finals unfolded between the Golden Knights and the Florida Panthers, residents of Nevada placed a total of $323 million in hockey bets.

The majority of these wagers were placed in favor of the Golden Knights, as fans eagerly backed their team's historic run in the playoffs.

The defining moment came on June 13 when the Golden Knights secured a resounding 9-3 victory in Game 5 at T-Mobile Arena, sealing their first-ever Stanley Cup championship. The euphoria surrounding the team's success was palpable, and some lucky bettors undoubtedly reaped the rewards of their faith in the home team.

Thw Vegas Golden Knights' journey began as an NHL expansion team in 2018, making them the first major men's professional team to call Las Vegas home. This marked a significant moment for the city, which had previously welcomed the WNBA's Las Vegas Aces (formerly San Antonio Stars) earlier that year.

Since then, the city has continued to embrace its sporting identity, with the NFL's Raiders relocating from Oakland soon and discussing a potential NBA expansion team in the future.

Las Vegas response on Vegas Golden Knights' Stanley Cup championship win

Despite the hefty losses faced by Nevada's sportsbooks, the overall sentiment within the city was one of jubilation. The Vegas Golden Knights' success served as a beacon of pride and joy for Las Vegas, overshadowing the financial challenges faced by bookmakers. Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, said:

"From my understanding, the overall consensus is that the town is more happy for the Knights than they are about sportsbooks losing money in the month of June. Everyone's pretty happy for the exposure it gave the city. It was a good thing."

For Las Vegas, the Golden Knights' triumph was not only a significant sporting achievement but also represented a powerful emotion.

As other professional teams continue to make their home in Las Vegas, the city's reputation as a sports powerhouse is on the rise.