Nevada Posts Record Sports Betting Handle In November

Nevada Posts Record Sports Betting Handle In November

The sports betting market in Nevada continues to explode. According to the latest figures released by the Nevada Gaming Control Board, the state has recorded a total of $614 million in betting handle across sportsbooks in Nevada.

The figure also represents the best one-month betting handle posted by any state so far in 2019. November sports betting handle in Nevada was also up 5.7 percent when compared with what the state’s sportsbooks posted during the same period the previous year.

It should be noted that Nevada’s sports betting market is the biggest in the US and second only to Macau globally. It is the first and the only state which has reported a betting handle to the tune of $600 million-plus.

Following Nevada is New Jersey. The state also posted one of the best months in its sports betting history so far and reported a betting handle of $562.7 million in November.

Nevada Gaming Control Board also reported a Gross Revenue of #31.1 million and that is an improvement of 14.6 percent when compared with the revenue generated during the same period the previous year. In November 2018, the state’s sports betting operations grossed $27.1 million in revenue.

The November boost in revenue from sports betting has been mainly attributed to football followed by basketball.
The total wagers placed on football in November amounted to $384.6 million while that on Basketball was $166.6 million.

Nevada’s sports betting market broke its own previous record it had set in March when it fell just shy of the $600 million mark. Earlier in the year in March, the state’s sportsbooks reported a combined betting handle of $596.8 million.

Since the US Supreme Court lifted a decade-long ban on sports gambling, several US states have legalized and launched sports betting operations. As 2019 comes to a close, it is expected that the US sports betting market will continue to grow at an exponential pace in 2020 as well.

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