Nevada sportsbook handle hits new heights in January

1 March 2019

Customer wins saw Nevada sports betting revenue fall in January, despite amounts wagered reaching a record $497.0m.

Total sports betting revenue for the month amounted to $14.7m, down 41.7% year-on-year. Figures released by Nevada Gaming Control Board show operator hold for the month was at 2.94%.

Overall handle was at $497.0m, an 18.8% increase on the $418.6m recorded a year ago.

American football win was up 5.52% year-on-year to $7.78m, with handle in January at $188.26m, up on the $179.61m in 2018. Football win percentage was fairly flat at 4.13% compared to 4.35% a year ago.

January ended a successful three-month period in which operators generated revenue of $57.78m from betting on football, a period including the National Football League playoffs and Super Bowl, up 40.13% year-on-year and at a win percent of 6.43%.

Other sports fared less well, with basketball win down 62.0% to $5.85m due to favourites winning. Basketball handle was at $256.71m, up 27.2% on January 2018.

A loss of $1.10m was recorded on baseball as punters cashed in their betting slips several months after the Major League Baeball (MLB) season concluded.

Overall statewide gambling revenue was at $984.5m, a 3.0% decline compared with January 2018. Both baccarat and blackjack saw revenue fall over the month.

Statewide revenue from baccarat was $95.9m in January, down 15.1% compared with the same month last year. Casinos generated revenue of $90.2m from blackjack, down 15.1%.