Nevada Sets Sports Betting Record In October, But Trails NJ Sportsbooks

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Nevada sports betting revenue October

Nevada finally joined other legal US sports betting jurisdictions with a record-setting month, though it’s a bit off the leader.

Sports betting handle hit a record $660 million in Nevada last month. That’s up 7.5% from the state’s previous high mark of $614 million hit last November and up 14.7% from September’s $575.1 million.

That $660 million in Nevada sports betting handle might be a state record but it’s far from a national record. It’s nearly 18% off the $803 million in New Jersey sports betting handle for October.

Nevada’s sports betting revenue was $42.4 million last month, good for 6.4% hold.

Nevada sports betting still lagging in mobile

Nevada’s mobile sports betting share moved the right direction in October, though barely.

Betting handle from mobile devices accounted for 57.1% of October’s total at $376.8 million. That’s up from 54.9% in September after hitting a high of 69% in July.

New Jersey, on the other hand, saw 93% of handle wagered online last month.

Remote registration could help that mobile share grow. The Gaming Control Board was supposed to hold a public hearing earlier in November on allowing remote registration but it was canceled just days before.

The cancellation notice said the meeting would be rescheduled. That hasn’t happened yet.

NV betting breakdown by sport

As always in the fall, football remains the betting favorite by far in Nevada sportsbooks.

Football handle hit $441.1 million in October, up 24% from last year’s $355.7 million. Some of that jump could be attributed to major college conferences like the Big Ten returning to play last month.

Baseball handle also jumped 33.4% to $110.7 million compared to last October. Along with the MLB playoffs taking up most of the month, a pandemic-fueled interest in the Korean Baseball Organization likely aided the growth.

Basketball handle ticked up about $1 million to $37.1 million. The difference, of course, is that last October included the NBA season’s tip-off. This October saw the Los Angeles Lakers beat the Miami Heat in the months-delayed NBA Finals.