Nevada Posts Its Most-Profitable Sports Betting Month Ever, But Handle Still Lags Well Behind New Jersey
Photo by Ethan Miller/Getty Images. Pictured: The Welcome to Fabulous Las Vegas sign
Nevada reported $609.6 million in sports betting handle for the month of November, in data published Tuesday by the Nevada Gaming Control Board.
While that’s down from the $659.9 million bet in October, the winning percentage for sportsbooks in the state was 10.1%, much better than the typical 5-6% hold. That led to winning $61.8 million, an all-time record for the state in a single month.
Bettors wagered $502 million on football in Nevada, also an all-time record handle for the sport in Nevada thanks to an extra Sunday and the fact that the NFL was not competing with the NHL and the NBA as it usually is, noted Gaming Control Board spokesman Michael Lawton.
New Jersey wrote $931.6 million in sports betting wagers in November, an all-time record for any state.
Nevada has suffered from the lack of in-person crowd due to COVID-19 and its in-person sign up requirement. Close to 90% of all wagers in New Jersey come online, while less than 60% in Nevada do.