Sportsbooks in the state in Nevada had a stellar February, perhaps the very best February since the launch of the state’s gaming industry. This can be seen from the revenue figures reported by the Nevada Gaming Control Board which showed that the state’s sports betting facilities as well as their mobile apps handled a whopping $458,591,549 in February. Compared to the $411,192,3017 that the state made in January 2018, the amounted posted for this year was an 11.5 percent year-over-year increase which might be a sign that the sports betting industry in Nevada and the United States as a whole may be picking up momentum once again.
The 11.5 percent revenue bump for the Silver State’s sports betting industry came despite the considerable drop in betting interest on the Super Bowl which is considered to be one of the biggest sporting events of the calendar year. For the sporting event, the sports betting operators handled $145,939,025, a significant drop from the $158,586,934 that was posted in 2018 for the same event.
In terms of winnings, the sportsbooks had a 7.81-win percentage in February 2019, which is on the high end with the sportsbooks averaging a hold percentage of 6.15 percent of the past year. Moreover, the sportsbooks held $35,816,000 in the form of revenue in February 2019 – this was a mind-boggling increase of 235.1 percent year-over-year. This huge increase came about because the sportsbooks won about $9,000,000 more on the game than they did in 2018 even though there was less handle on the Super Bowl this year.
A Break Down of Nevada Sports Betting in February
For the second month in a row, basketball drove the sports betting handle – hoops handle crossed the $250 million mark once again and this accounted for over half of the wagers that month. The sportsbooks, in turn, held, close to $20 million on the hardwood. Bets placed on football, including the Super Bowl, brought in over $142 million in handle and $11 million revenue. Here is a brief overview of everything else:
- Football: $11,015,000
- Basketball: $19,871,000
- Baseball: -$267,000
- Other (hockey, boxing, golf, etc.): $4,681,000
- Parlays: $516,000
While sports betting is all the buzz in Nevada, it accounts for a relatively small portion of the overall gaming revenue for the state. This is how other gambling services performed:
- Slots/machines: $608,323,000 (+0.47%)
- Baccarat: $132,128,000 (-25.48%)
- Blackjack: $96,363,000 (+9.43%)
- Craps: $37,813,000 (+21.20%)
- Roulette: $34,793,000 (-4.54%)
- Poker: $9,276,000 (+3.79%)
Overall, the casinos won a total of $1,011,539,000 from all the games in February which is just a slight 0.6 percent year-over-year.