N EVADA T ABLE G AMES :
H ISTORICAL H OLD P ERCENTAGE V ARIATIONS
ANNUAL AND MONTHLY HOLD PERCENTAGES, 1992-2017
CENTER FOR GAMING RESEARCH, MAY 2017
Hold percentage—the portion of money gambled that the casino retains—has a huge impact on
casino revenues. As “games of chance,” the chief table games offered in Nevada casinos (TwentyOne, Craps, Roulette, and Baccarat) are generally favorable to the house, but their exact hold
percentage can vary considerably, even when decisions are spread out over a year.
Frequently, when monthly results are released, analysts will make reference to “lower than average
hold percentage” impacting revenues. This report is designed to provide a handy reference: what
are the “average” hold percentages for the major Nevada table games? And how far from that
average have results typically varied?
Executive Summary
The following table shows the average, maximum, and minimum monthly hold percentages for the
period January 2004 through April 2017 for four table games:
Monthly Statewide Hold Percentages, 2004-2017
Average
High
Low
Variation
21
11.94
15.59
8.23
7.36
Craps Roulette Baccarat
13.34
18.75
12.22
18.81
25.70
19.53
8.03
9.17
3.55
10.78
16.53
15.98
Any monthly result that deviates significantly from these averages will impact monthly gaming
revenues in a way that may distort the true level of play.
As can be seen by the ranges of variation, Twenty-One, even though it has the highest level of skill
out of any of the four games studied here, had the smallest variance, while baccarat had the
greatest.
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Changes over Time
Looking at the graph and data set for annual hold percentage averages from 1992 to 2017, it
becomes clear that Nevada table games have trended towards lower hold over the past 25 years.
Annual Statewide
30.00
25.00
20.00
TwentyOne
Craps
15.00
Roulette
Baccarat
10.00
5.00
0.00
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016
Annual statewide hold percentage data on next page
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Annual Statewide Hold Percentages, 1992-2017
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017 YTD
TwentyOne
14.25
14.45
14.15
13.85
13.57
14.00
13.08
12.94
12.56
12.92
13.01
12.91
12.31
11.73
12.28
12.40
11.58
11.31
10.68
11.41
10.87
11.98
12.00
12.24
13.39
15.14
Craps Roulette Baccarat
14.50
23.37
15.00
13.67
22.21
15.08
14.13
22.54
15.19
14.27
21.55
15.09
14.16
24.28
14.50
14.05
22.97
17.06
14.09
23.19
15.14
13.52
24.25
18.84
13.53
23.51
18.35
14.11
23.82
17.77
13.79
23.74
21.92
13.62
23.30
19.62
12.95
21.33
12.10
13.17
21.47
11.24
12.85
21.71
11.01
13.56
17.92
12.74
13.72
20.13
10.70
11.55
18.76
11.30
12.45
17.36
11.03
12.44
16.37
12.48
13.38
17.37
12.14
13.55
17.86
13.51
13.66
18.44
12.60
13.96
16.80
12.52
14.77
17.82
14.30
15.50
16.95
12.84
Monthly statewide hold percentage data begins on next page
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Monthly Statewide Hold Percentages, 2004-2017
Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Jul-04
Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Twenty-One
13.33
13.47
12.57
13.12
13.36
12.96
10.46
12.34
9.85
11.65
13.13
11.62
11.55
12.31
12.70
11.19
11.35
13.43
12.52
11.20
13.95
9.65
10.75
10.82
13.72
11.47
11.93
12.91
12.42
11.19
11.84
11.15
12.89
12.41
12.58
13.04
12.53
12.69
13.00
12.91
11.89
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Craps
11.67
13.93
14.21
13.06
13.29
13.44
12.90
12.78
13.67
11.13
13.24
12.42
11.40
12.58
15.13
12.96
11.95
17.29
12.37
10.91
13.40
13.21
14.43
12.88
14.15
13.41
12.87
12.29
11.30
12.81
12.42
11.74
13.58
14.52
13.19
12.04
14.07
14.93
13.25
13.59
12.40
Roulette
23.43
25.70
20.82
18.65
20.80
19.66
20.56
22.57
16.50
23.24
22.38
22.02
23.48
19.94
22.13
20.18
19.96
24.98
22.50
19.05
18.76
21.58
21.75
24.44
22.26
23.76
21.11
19.73
22.54
18.95
21.34
22.31
21.65
19.66
23.34
23.13
17.64
18.41
20.20
12.31
21.52
Baccarat
11.14
19.53
12.54
8.89
17.55
11.45
14.11
13.27
14.44
11.72
6.40
10.19
16.41
7.76
14.32
17.33
12.77
13.30
13.08
8.36
9.55
10.64
9.55
10.80
11.01
11.89
10.29
14.52
13.17
8.81
11.62
9.69
13.61
5.50
11.21
11.55
15.23
11.36
9.91
13.56
11.27
4
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Twenty-One
12.74
13.61
12.08
12.72
12.62
11.90
10.20
11.58
11.55
11.24
13.59
9.97
11.75
11.37
10.36
12.35
12.69
11.43
11.42
11.22
12.91
11.67
11.64
10.56
11.89
11.04
10.98
10.77
10.21
12.29
10.46
10.46
11.15
11.49
12.60
10.37
10.51
10.84
9.50
11.00
11.14
10.58
8.65
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Craps
11.68
15.90
11.50
15.35
13.16
13.48
13.37
14.83
14.42
14.28
13.97
12.71
10.91
13.56
16.37
10.66
14.05
14.51
13.92
12.91
11.75
13.33
12.47
11.70
11.03
13.24
9.72
12.45
15.85
10.42
8.03
11.01
11.62
10.64
11.69
12.51
8.65
11.94
16.69
12.35
11.15
13.64
17.56
Roulette
20.44
22.26
19.87
12.32
16.09
16.67
19.43
25.41
24.36
18.38
20.63
18.35
17.69
18.41
19.91
20.74
21.00
18.89
18.78
15.73
19.43
23.81
20.48
19.57
19.35
23.11
13.48
22.80
15.85
16.75
15.55
15.74
21.14
14.77
18.21
19.12
18.64
19.13
17.86
18.66
14.19
15.15
17.02
Baccarat
11.22
14.99
14.51
11.06
14.13
13.04
12.33
12.82
11.19
9.56
14.47
11.27
13.75
9.60
10.33
13.41
8.20
10.45
7.19
10.77
10.94
7.15
9.86
13.24
13.00
12.76
10.60
11.85
9.21
13.54
11.85
12.89
17.08
8.43
8.48
8.40
3.55
10.01
8.31
13.14
18.37
12.15
11.47
5
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Twenty-One
12.29
10.83
11.79
12.33
11.97
11.20
10.92
10.49
11.25
11.09
10.91
11.55
11.69
12.84
9.90
12.26
8.59
10.57
12.28
10.73
10.42
12.01
8.23
11.19
12.63
13.89
12.54
10.5
10.78
10.82
11.48
12.11
12.77
11.6
13.52
11.11
13.24
10.21
12.36
11.09
12.01
10.38
14.41
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Craps
11.95
12.89
13.88
14.21
9.59
15.16
8.55
14.37
12.41
10.17
14.94
12.26
10.11
13.25
12.02
15.68
11.74
14.50
14.3
12.85
16.33
13.42
12.67
14.73
11.35
15.77
11.84
11.56
13.81
15.49
12.14
16.05
12.08
15.19
13.34
13.94
13.18
13.02
15.01
14.07
13.42
12.29
15.88
Roulette
19.48
15.53
18.10
17.56
18.85
14.49
12.62
22.00
15.60
10.75
18.78
16.42
18.33
19.89
11.57
18.27
16.26
13.07
11.99
21.72
14.3
22.78
22.84
21.93
18.71
19.02
17.88
23.43
21.32
15.99
19.25
21.07
17.18
9.17
17.93
15.66
16.56
20.11
18.72
18.95
17.22
20.18
13.08
Baccarat
10.94
11.70
11.56
11.66
12.21
15.58
9.76
12.01
12.65
18.78
13.60
10.92
12.49
14.33
8.02
10.12
8.10
12.35
16.03
11.96
11.07
14.65
12.71
11.17
12.06
16.56
10.5
11.96
11.14
7.44
11.42
18.85
15.23
13.29
12.25
15.14
8.92
12.3
14.47
13.93
16.56
12.04
10.74
6
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
Twenty-One
13.84
11.44
11.4
12.3
11.37
10.37
12.50
12.31
12.9
12.52
11.41
11.03
12.12
13.3
11.58
13.21
13.61
12.75
12.93
12.78
12.10
13.45
12.18
14.69
12.37
15.59
14.11
14.92
12.83
15.65
14.41
14.41
14.55
Craps
14.60
12.57
13.88
11.41
14.53
10.46
15.7
14.63
14.45
15.23
11.22
13.40
14.05
16.12
15.17
13.75
13.36
15.14
18.81
13.45
13.85
14.23
14.46
14.98
13.67
13.38
14.08
14.91
16.23
15.55
14.56
14.56
15.60
Roulette
20.89
17.88
22.25
14.72
20.7
19.88
20.06
16.7
15.88
15.64
17.91
17.72
16.65
14.34
12.07
14.39
20.3
21.35
15.44
16.53
16.22
16.53
18.79
20.01
13.57
15.84
21.43
23.54
14.62
21.19
15.50
15.50
13.02
Baccarat
16.00
12.63
10.22
12.35
11.04
17.35
12.32
8.32
12.86
11.48
9.38
12.75
14.30
13.29
8.88
14.68
14.68
16.09
12.79
11.23
17.77
12.85
14.05
16.50
10.28
16.49
14.30
13.53
15.76
16.88
10.12
10.12
12.42
***
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All data taken from Gaming Revenue Reports for their respective months; accessible at
http://gaming.nv.gov/gaming_revenue_rpt.htm
Data entry by Alexis Rajnoor.
Preferred citation:
David G. Schwartz. Nevada Table Games: Historical Hold Variations. Las Vegas: Center for
Gaming Research, University Libraries, University of Nevada Las Vegas, 2017.
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