Nevada sportsbooks continue to show seasonal strength with one of their highest handle totals on record.
Combined with record handle in New Jersey, the two largest markets in the country accounted for nearly $1 billion in sports betting handle last month.
Nevada sports betting saw $546.2 million in bets during September, raking in a robust $52.1 million in revenue. NJ sports betting hit a monthly high of $445.6 million in September.
The total was aided by the return of NFL and college football, as well as the proliferation and continued improvement of NJ sports betting apps.
Nevada’s September total was 4.4% off last September’s handle, which set a monthly record for September.
Football remains king in Nevada sports betting
The start of the NFL season helped put Nevada in front of New Jersey for September.
Nevada sportsbooks took $377.5 million in football handle, which was also just short of last September’s record. That total encompasses both NFL and college football, although professional football accounts for the lion’s share.
The last month of the MLB regular season also helped, taking in $122.4 million in handle.
PA stealing NJ’s thunder?
It’s possible Nevada might have ranked second in September without the strong growth in mobile PA sports betting. Some industry analysts estimate as much as a quarter of NJ sports betting revenue comes from out of state, namely New York and Pennsylvania.
The Keystone State lagged behind both with nearly $195 million in handle last month. But mobile and online sports betting is still young in the state. Power player DraftKings Sportsbook will not launch until early November.
FanDuel Sportsbook, the state’s newest entrant, is still ramping up its operations yet already accounted for about 45% of handle.
So much more with mobile?
It’s unknown how much sports betting handle and potential revenue for operators Nevada is missing without a fully mobile sports betting product.
It’s clearly part of the experience to sit in the sportsbook and place bets while at one of Nevada’s many sprawling books. Nevada requires in-person registration for sports betting apps, though, which could limit the growth potential for its mobile products.
Pennsylvania and New Jersey continue to be case studies for pure mobile sports betting with remote registration. Pennsylvania’s September handle total consisted of 81.3% of bets from mobile. In New Jersey, 84% of handle came from mobile.
Breakdown by sport:
| Sport | Handle | Revenue | Hold |
|---|---|---|---|
| Football | $377,468,599 | $39,068,000 | 10.35% |
| Baseball | $122,427,653 | $7,615,000 | 6.22% |
| Parlay | $11,716,692 | $5,426,000 | 46.31% |
| Basketball | $3,984,273 | -912,000 | — |
| Other | $30,596,491 | $872,000 | 2.85% |
| Total | $546,193,707 | $52,069,000 | 9.53 |
