October was one of the biggest months for Nevada sports betting ever, as bettors wagered more than half a billion dollars at sportsbooks.
The top-line look at Nevada sports betting
The numbers from the Nevada Gaming Control Board for last month show it was a banner month nearly across the board for Nevada sportsbooks.
The total handle for the month — $517.3 million — was the third biggest month in state history for sports betting.
The only other months that eclipse October in terms of total wagered are November of 2014 ($535.5 million) and 2015 ($557.4 million).
It was a year-over-year increase from October 2015, which featured $505.3 million in handle.
Revenue for sportsbooks featured good news as well, with $42.3 million in gaming win being generated. Of course, almost every month is a good month for the books:
Nevada sports books won $42.3 million in October, extending their winning streak to 39 months. Last losing month: July 2013.
— David Payne Purdum (@DavidPurdum) November 29, 2016
Sport by sport for Nevada sports betting
Not shockingly, the lion’s share of the money bet and held by books came on the NFL and NCAA.
- Football: $400.5 million handle, $30.1 million revenue
- Basketball: $18.6 million handle, $2.3 million revenue
- Baseball: $66.4 million handle, $4.5 million revenue
- Parlays: $15.3 million handle, $3.9 million revenue
- Other: $16.5 million handle, $1.5 million revenue
After a down September for NFL betting, football wagers ticked up year over year in October, from $398.1 million.
The biggest gains were made in baseball and interest in betting on the Chicago Cubs vs. Cleveland Indians World Series. Bettors wagered about $7 million more on baseball this October than last.
October is the second time that daily fantasy sports pari-mutuel wagering appeared on the report. In the company’s second month of operation, USFantasy generated about $50,000 in handle.
What’s next for Nevada sportsbooks?
November is historically one of the books’ biggest months, and wagering has been up in nearly every month in 2016.
Barring unforeseen circumstances and if recent trends hold, November will be the biggest month ever for sports betting in the state.
