Nevada Sets Single-Month Sports Betting Handle Record in March
Pictured: A general view of the Westgate SuperBook in Las Vegas
- Nevada set another single-month record for sports betting handle in March, aided by the NCAA Tournament.
- Despite legalization in other states, Nevada continues to set both handle and revenue records for sports betting.
Nevada made history in March of 2019, setting a record for the biggest handle it’s ever taken in a month.
The state took in $596.8 million in sports bets last month, breaking the record set four months ago when Nevada brought in $582.3 million in November.
The handle was up $75.2 million as compared to March 2018. But the net profits were actually down because the sports book win percentage dropped to 5.45% compared to 6.55%, according to the Nevada Gaming Control Board.
The March handle was boosted by March Madness as bets on basketball totaled $495.1 million, which was also an all-time high.
It was also the first time in 15 years (March 2004) that the sports betting handle surpassed the money bet on Baccarat in the state.
Despite some fearing that legalization in other states would affect Nevada, the state finished last year with $5 billion in total sports bets, an all-time record and the ninth straight year of consecutive handle growth.
New Jersey has taken in $2.3 billion in its first eight and a half months of being legal. While the state is now No. 2, it is a distant second as the first full-year handle figures to be roughly 60 percent of Nevada’s take, at best.