Nevada's November Sports Betting Handle Hits Record High

Published December 31, 2019 by Elana K

Nevada's November Sports Betting Handle Hits Record High

The Nevada Gaming Control Board recently revealed that its sports betting industry generated $31 million in winnings and hit a record $614.1 million handle

The Nevada Gaming Control Board recently revealed that its sports betting industry generated $31 million in winnings and hit a record $614.1 million handle. This is the first time that any state’s sport betting industry has broken the $600 million mark in one month. Nevada’s previous record was in March 2019 with a handle of $596.8 million.

New Jersey sports betting generated $572.7 million, coming in at a respectable second. This is the second month in a row that the combined handle of Nevada and New Jersey surpassed the $1 billion mark.

Over the past 12 months, Nevada's sportsbooks have reported total winnings of $336.9 million, 15.8% more than the winnings of the previous 12 months. Its handle also increased from $4.93 billion in 2018 to $5.3 billion in 2019, approximately a 7.5% spike.

The most popular sport that is betted on is football, which was responsible for $22.5 million in winnings in November and a whopping $384.5 million of the handle. Basketball came in second with $166.6 million in handle. Baseball, hockey, MMA, and boxing also played significant roles in November’s earnings and handle.

Nevada vs. New Jersey

Nevada has a much stronger retail component than New Jersey because it requires in-person registration, while New Jersey does not. At the same time, mobile betting is growing in popularity across the states. In fact, in New Jersey, 86.5% of November’s bets were placed online. If Nevada continues to require in-person registration, there is a chance that New Jersey will be able to surpass it and become the state leader in sports betting. 

 

See also

In May, NJ Sports Betting Generated More Revenue Than Nevada

Iowa Sports Betting Handle Expected to Rise Significantly in Coming Months

New Jersey Smashes Another Online Gambling Record in November

New Jersey Online Gambling Revenue Hits Record-High in December 2016

US Powerball Hit For Record $590m. Jackpot


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