Nevada Sports Betting Breaks Two Records; Casino Win Tops $1B Again

Nevada Sports Betting Breaks Two Records; Casino Win Tops $1B Again
By Jim Tomlin

Nevada’s sports betting and gaming industries kept clicking along in November, setting two records – for sports betting revenue and mobile handle – and keeping up an impressive streak as well.

The sports betting handle fell just short of the record $1.1 billion from October, but it was still the second-highest month in state history and fourth most in national history, behind the past two months in New Jersey.

According to the Nevada Gaming Control Board the total state gaming win exceeded $1.322 billion in November, the ninth straight month that the state took in more than $1 billion in that category. That total was also the state’s highest since it hit $1.36 million in July.

Here are three more takeaways for November in Nevada.

Sports Betting Trending Toward Mobile

Even though Nevada still has a requirement to sign up for online sportsbooks in person at a brick-and-mortar casino, the popularity of mobile sports betting is undeniable even in a state most famous for folks going to casinos.

November marked the third straight month that Nevada set a record for mobile sports betting handle. In October that number was $703.75 million. November saw the state sail past that mark at $777 million.

Mobile betting accounted for 71.6% of the volume in the state for November. That was the first time since June 2020, when many casinos were still closed to help prevent the spread of coronavirus, that the mobile figure exceeded 70% in Nevada.



Nevada Sports Betting November vs. October

Total handle Mobile handleRevenue
November$1.086B$777.178M$71.971M
October$1.100B$703.750M$48.312M
Change Down 1.3% Up 10.44% Up 49.0%

Though Nevada didn’t break its total sports betting handle mark in November, the month was still very impressive and continues a big run for the sportsbooks. In September the state set a record with $786.5 million in handle, smashing the mark of $660 million that had stood since October 2020.

In October, of course, that new record was swept away as Nevada pulled in $1 billion in sports betting handle for the first time, clearing $1.1 billion.

The football handle in November was $558.6 million. Basketball accounted for $376.1 million.

Sports Betting Revenue Sets New Mark As Well

Nevada’s sports betting revenue also broke a record, with $71,971,000 in all, a 49% increase from October’s $48.3 million. Football betting alone took in just over $53 million as the books had a great month with a whopping hold of 9.5%.

The old revenue record was one year earlier -- $61.8 million in November 2020. Last month’s revenue was 16% higher than that.

Parlay cards, always a high-margin category for the books, had a hold of nearly 55% with $4.4 million in revenue on just $8 million in handle.

Total Gaming Handle Exceeds $1.3 billion

Nevada extended its streak to nine consecutive months of at least $1 billion in total statewide gaming win. November’s total was $1,321,625,000, the highest total since July, when gaming win hit $1.36 billion.

The last time the state failed to reach $1 billion in gaming win was February.

The win percentage (or hold) for Nevada casinos in November was 7.13%.

There are no real money online casino options in Nevada; however, the state does offer online poker, one of a small number of states to do so.

quote
WRITTEN BY
TopUsCasinos.com
Jim Tomlin
Jim Tomlin has more than 20 years of experience in sports journalism as an editor and writer. He has covered pro and college sports from football, baseball, basketball, soccer, golf, motorsports and more for publications such as the Tampa Bay Times, SaturdayDownSouth.com, SaturdayTradition.com and FanRag Sports.
... Read More
Jim Tomlin has more than 20 years of experience in sports journalism as an editor and writer. He has covered pro and college sports from football, baseball, basketball, soccer, golf, motorsports and more for publications such as the Tampa Bay Times, SaturdayDownSouth.com, SaturdayTradition.com and FanRag Sports.
... Read More