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Nevada’s Sports Betting Handle Goes Over $1 Billion Once Again For December

Nevada’s Sports Betting Handle Goes Over $1 Billion Once Again For December

by Timothy KimJanuary 28, 2022

Taking a Deeper Look Into the Sports Betting Handle Numbers

Although the Silver State stayed in the billion-dollar club, the handle figures declined 6.5 percent from November’s $1.1 billion. Looking at the year-to-date numbers, December 2021’s handle was 72.5 percent higher than December 2020s $588.5 million.

Mobile betting accounted for $765 million of the overall sports betting handle, which noted a decrease of November’s $777.2 million. However, when comparing the handle from December 2020, the betting volume couldn’t be matched as the handle skyrocketed 117.2 percent.

Online wagering in Nevada only made up 75.4 percent of the handle, which is less than industry leaders like New Jersey, New York, Pennsylvania, and many others. The mobile sports betting handle aspect of the market is low because the Nevada Gaming Commission hasn’t allowed users to register online.

December’s numbers pushed the state’s overall handle in 2021 to $8.1 billion, which led to $445.1 million in revenue. The state collected $30 million in taxes for the year. Sportsbook operators never surpassed $5.3 billion in total handle and $329.1 million in total revenue for a given year.

The previous records were all from 2019, as the industry plummeted in 2020 due to the start of the pandemic. The state’s revenue for the month dropped as the numbers came out to be $15.9 million, which portrayed a decrease of 77.8 percent compared to November’s $71.9 million and down 60.7% from December 2020s $40.6 million.

Operators were only able to keep $2.6 million or only hold 0.34 percent. The state’s total gaming win for the month was slated at $1.2 billion.

What Sports Were Bettors Placing Wagers on for the Month

Football has been doing well to close out 2021, and it was no surprise as the reign continued. Operators brought in $477.1 million in wagers for the month. Football’s handle was down in December compared to November because the college football season was winding down.

November’s football handle hit $558.6 million with a full schedule on Saturday. However, operators held 3.6 percent or $16.9 million in revenue in December. Basketball also brought in $408.7 million in bets, but the schedule favored the consumers. Basketball’s hold was good for 0.7 percent or $2.9 million in revenue.

Hockey’s handle was $66.6 million, and operators lost slightly $600,000 in revenue. The other sports category brought in $57 million in bets, and sportsbooks lost $57,000. Lastly, bettors across the state placed $5.6 million on parlays, and books lost $1.9 million in revenue.

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About The Author
Timothy Kim
I am a student at the University of Miami. I am currently majoring in sports management and minoring in entrepreneurship. My hobbies are watching sports especially NCAAB, NBA, MLB, and the UFC. I also enjoy investing in the stock and crypto currency market. I hope to pursue a masters in the future in Finance or a degree in law to have the chance to work with athletes in the future.