August Nevada sportsbook handle remains behind NJ

27 September 2019

Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m.

The state’s $952.4m worth of revenue was the lowest figure since April but up 4.3% year-on-year, as a total of $11.78bn was wagered in the state.

The sports betting handle for the month was behind New Jersey’s $293.6m, after falling back behind the Garden State for July. Sports betting revenue totaled $18.7m, less than New Jersey’s $25.2m, but up 62.4% year-on-year and 20.9% month-on-month.

The return of college American football and the approach of the NFL led to a 30-fold month-on-month increase in American football bets in the state, and a 110% year-on-year increase with $72.3m wagered. While the handle lagged far behind baseball’s $178.9m, the state made substantially more revenue on American football at $12.7m compared to baseball’s $6.7m, boosted by the fact that many American football bets made in August were yet to pay out, allowing for a 17.5% win percentage.

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