Nevada‘s sports betting handle set a new monthly record and eclipsed the $600 million mark for the first time in November. It was also the first time Nevada or any regulated stated had surpassed that mark for any month.
The new record of $614.1 million is 2.9% higher than the previous record of $596.8 million set in March 2019.
November also marked the second straight month where Nevada and New Jersey combined for more than $1 billion in handle.
Nevada sports betting handle rose 5.7% compared to last November. This year’s $31 million in sports betting revenue is up 14.3% from last year.
Nevada sportsbooks still lead, for now
This could be the last November that Nevada leads the rest of the US sports betting states in handle.
Nevada remains the hot spot for US sports betting when it comes to retail betting. The destination betting trips that give bettors the Las Vegas experience is tough to match anywhere else.
But it’s clear that mobile is the way people in America want to bet on sports. New Jersey had 86.5% of its record $562.7 million in November handle come from the internet. Although Nevada does have mobile betting, it is more difficult for bettors to both sign up for and use the state’s apps.
It seems unlikely that New York gets mobile legalized and regulated in time for next year, which means those bettors will continue sending money to NJ sportsbooks. That gives New Jersey a pretty good shot at the top spot next year.
Or it could be Pennsylvania, which could surprise everyone with a very fast ramp-up period. Online sports betting accounted for 84.3% of the state’s record $316.5 million in handle last month. Pennsylvania just added its eighth online sportsbook, BetAmerica, this month.
Football still leads all
It would be a major surprise if any sport other than football led the way for Nevada sportsbooks in November.
Football handle accounted for 62.6% of the state total with $384.6 million. Basketball came in a very distant second with $166.6 million in handle.
There was less than $250,000 bet on baseball futures in November. The sport accounted for negative revenue as bettors cashed in their 2019 tickets.
Breakdown by sport in Nevada
| Sport | Handle | Revenue | Hold |
|---|---|---|---|
| Football | $384,564,103 | $22,497,000 | 5.85% |
| Basketball | $166,646,217 | $8,149,000 | 4.89% |
| Other | $51,379,731 | $4,208,000 | 8.19% |
| Parlay | $11,240,385 | $2,338,000 | 20.80% |
| Baseball | $240,285 | ($6,180,000) | (2,571.95%) |
| Total | $614,070,720 | $31,012,000 | 5.05% |
The numbers for baseball, where sportsbooks lost a lot of money, are tied to the Washington Nationals’ late run to win the World Series.
