Record Breaking September for Nevada Sports Betting
Football season has been very good for betting handles across the United States. Many states are announcing record numbers for the month of September because of the excitement of football season. This should generate a lot of excitement for the industry in the coming months because of the combination of other major sports with the NFL.
Nevada was one of the states that had a record handle in September. The state collected $786.5 million in bets, which was up 84% from August’s $427.4 million.
The Record Handle
Nevada blew out its previous sports betting handle record of $659.9 million from October of 2020. October of 2021 could be another record-shattering month because of the combination of the NFL, NBA, MLB, and NHL.
The $786.5 million handle in September was 36.7% higher than September 2020s $575.1 million total. This year-to-year growth is critical to determine the growth of the state’s sports betting industry, and Nevada is moving in the correct direction.
The mobile handle for the month was also a record. Since Nevada is predicated on tourism, a significant percentage of bets are placed at retail sportsbooks. This differentiates from the remainder of the nation, where mobile betting usually amasses 90% of handles.
Nevada’s mobile handle was $495.3 million, which was up 67% from August when the total was just $296.5 million. The year-to-year growth on the handle was 57%, and the former mobile record was $376.8 million.
Online wagers accounted for 63% of the betting handle. Large handles typically yield significant revenue figures. Revenue is what matters for states because it’s what the industry is making off sports betting.
Nevada collected $54.2 million in revenue for September, which was a 277.9% increase from August’s $14.3 million. The September total was 64.8% higher than last year’s monthly total.
Football Drives Success
Baseball was the most wagered sport in Nevada since May, but this streak ended in September. The start of the NFL season easily pushed baseball to the side. Additionally, college football helped the sports’ handle surpass baseball with ease.
$477.7 million in football bets were placed, and baseball came in second with a $216.8 million total. Basketball was third with $7.4 million, and hockey was fourth at $1.1 million. Parlays totaled $7.2 million, and all other sports accounted for $76.3 million of the handle.
Nevada is one of many states to set a record sports betting handle during the month. New Jersey set the national record, achieving the coveted $1 billion handle. The total tallied $1,011,114,311 in bets, smashing the previous record of $96.3 million. This was set by New Jersey in December of 2020.
Indiana, Iowa, Michigan, and New Hampshire also set records for the month. MI collected $386.3 million while IN had $366.3 million in wagers placed. IA came in at $210.4 million, and NH totaled $68.1 million.
Nevada has a lot of work to catch New Jersey for the largest sports betting market in the United States. However, the state is moving in the right direction with the beginning of the football season. More records are expected for the month of October in Nevada.
