Nevada Sports Betting Sets New Record
The sports betting industry is alive and well in the state of Nevada, even if this state is no longer the biggest in the United States. The total sports betting handle for the month of January was $1.11 billion, sliding past the record that was set in October 2021.
Not only did this set a new record for the month of January, but this was also a jump of nearly 72 percent from the month of December. Several states throughout the U.S. have reported record-setting numbers for the month of January and Nevada was simply keeping with that trend.
Nevada is one of the few states that doesn’t see more than 90 percent of the wagers being placed online. The online sports betting handle for the month was over $786 million, and that also set a record for this industry.
Sportsbooks in Nevada not only saw a huge jump in the number of wagers placed last month, but there was also a massive leap in terms of revenue. Total sports betting revenue nearly hit the $50 million mark in January after that total was just $15.9 million for the month of December.
Since Nevada is obviously a massive industry for all markets, the total gaming win was more than $1 billion for the month. As travel and tourism continues to rebound after some rough months during the pandemic, those numbers should continue to climb.
Basketball Leads the Way
Even though the NFL Playoffs were taking place during the month of January, basketball was actually the sport that attracted the most wagers. The total handle for basketball was $504.9 million, and football was a close second at $453.9 million.
The action during the month of February will be dominated by the NFL, but that is the only football game that took place. Basketball is going to lead the way for February and March, especially once the NCAA Tournament tips off.
Hockey had a total handle of $75.3 million for the month of January and the Vegas Golden Knights continue to be a popular team.
Super Bowl Sets a Record
The February sports betting numbers won’t be announced until the middle of March, but it should be another huge month for the state. The Nevada Gaming Control Board has already announced the Super Bowl betting handle and it was impressive.
The Super Bowl handle for the state of Nevada was $179.8 million, which shattered the previous record set back in 2018. Several states have already announced their Super Bowl sports betting handles as well, and Nevada is currently leading the way.
Now that New York has launched online sports betting, Nevada has actually moved into third place in terms of the biggest betting markets. Illinois and Pennsylvania are starting to gain ground as well, but Nevada has been able to rebound over the last few months.