Betting News

Sports Betting in Nevada Breaks Record With $614 Million in One Month

Recently, the Nevada Gaming Control Board announced that the sports betting industry in Nevada is continuously reaching new heights. It is reported that the state sets a new record of $614.1 million in November 2019, which is 2.9% more than $596.8 million in March 2019.

In November, Nevada and New Jersey joined together for over $1 billion in the handle. The sports betting in Nevada has been raised to 5.7% from November 2018, and in 2019, the total revenue of $31 million is almost 14.3% up from last year.

Sports betting is growing at a rapid speed, and on the other hand, the casinos in the Silver State are still lagging.

New Jersey is considered to have the second sports betting market, and it is reported that in November, the state earned a worth of $562.7 million. The Silver State has a significant retail component as compared to New Jersey. The online sports wagering handle in Nevada is obstructed by a requirement of in-person registration unlikely the Garden State.

In 2019, the Nevada sportsbooks had winnings of $336.9 million, which is 15.8% more than in 2018. During the period, the handle was $5.3 billion, i.e., more than 7.5% from $4.93 billion in 2018.

Bettors have focused mainly on football, and it is reported that betting on football for $22.5 million of winning in November and $384.5 million of the handle. It does not include parlays that are famous for football.

On the other hand, the revenue in basketball betting is $8.1 million and $166.6 million in the handle. Other games, including hockey, MMA, boxing, and many more, are considered for $4.2 million in winnings and $51.5 million in the handle.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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