Nevada Sets Sports Betting Handle Mark & Other Key Takeaways
@wordine
Nevada’s overall gaming financial picture maintained a mostly steady trajectory in September as the state set records and Las Vegas continued a recovery from the economic havoc caused by the COVID-19 pandemic.
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Gaming operators in Nevada enjoyed a gaming win of more than $1.158 billion, the seventh straight month that the state hit the billion-dollar plateau. In a month-to-month comparison, the September figures were down slightly from August ($1.166 billion). Coming out of the pandemic, pent-up visitor demand drove an all-time record in July of $1.36 billion in gaming win.
Nevada Sports Betting September vs. August
| Total handle | Mobile handle | Revenue | |
|---|---|---|---|
| September | $786.509M | $495.226M | $54.205M |
| August | $427.425M | $296.485M | $14.342M |
| Change | Up 84.0% | Up 67.0% | Up 277.9% |
Here are key takeaways from the September report in Nevada:
NFL Boosts Nevada
Sports wagering got a substantial boost from the return of football season with handle hitting an all-time state record of $786.5 million, up 84% from August ($427.4 million) and, in a more relevant comparison (because of football season), an increase of 36.7% from September 2020 ($575.14 million).
The September sports wagering handle shattered the previous record of about $660 million set in October 2020.
Revenue Increases
Nevada sports wagering revenue also saw increases, both in month-to-month and monthly year-over-year comparisons. Nevada’s September sports betting revenue was $54.2 million, up 277.9% from August 2021 ($14.3 million), and it increased 64.8% from September 2020 when it was $32.9 million.
Mobile Record, Too
As usual, the ratio of mobile-to-retail sports wagering wasn’t as lopsided in Nevada as in some other jurisdictions, such as New Jersey, because retail sportsbooks in Las Vegas are popular tourist destinations.
Still, mobile betting was healthy in September with a state record handle of $495.2 million, which was 63% of the state total. In New Jersey, mobile sports betting handle usually tops 90% of the total.
Significantly, Nevada’s September mobile sports wagering handle set a record in that category and was up 67% from August ($296.48 million) and was an increase of 57% from September 2020 ($315.48 million). September’s online sports betting handle eclipsed, by a wide margin, the old mark of $376.8 million from October 2020.
Contributors
A longtime reporter and editor who began writing on casinos and gaming shortly after Atlantic City’s first gambling halls opened, Bill covered the world Series of Poker and wrote a syndicated column on travel to casino destinations for a decade.
