Nevada Sports Betting Posts Record Revenue Of $72M In November

Written By Matthew Waters on December 29, 2021
Nevada sports betting revenue November 2021

Sports results favored the books in November unlike October, which helped Nevada sports betting hit a revenue record last month.

Nevada reported $72 million in sports betting revenue for November on $1.086 billion in bets. It’s the second straight month Nevada topped the $1 billion mark for wagers with November’s handle just 1.3% lower than October’s.

That’s despite one fewer Friday through Sunday weekend compared to October.

Revenue was 16.4% over the previous record of $61.8 million, which was set last November. Handle jumped 78.2% from last November.

Handle from mobile accounts was $777.2 million, or 71.6% of the total market, according to the report.

Nevada sports betting made bank on football

The effects of the extra weekend of NFL betting and college football betting – as well as those operator-friendly results – were obvious in the betting breakdown.

Football accounted for more than half of all wagers with $558.6 million in bets for the month. But that was down 23.4% from October’s $729.3 million bet on the sport.

Hold was 9.5% on those football wagers, which brought football revenue to $53.1 million.

It was the first full month of NBA play that helped offset the one fewer weekend of football. Bettors wagered $376.1 million on basketball in the month, though a paltry 2.7% hold meant just $10.2 million in revenue for books.

Parlay handle fell off about 30% from October to $8 million in November. Operators held 54.8% compared to 37.3% in October, though, which led to a slight increase in revenue to $4.4 million.

Will November set new US records?

It looks like a new record for total US sports betting monthly revenue will be set in November. Whether handle hits a new high still depends on a few heavy hitters.

Total reported revenue from 16 jurisdictions is $451.9 million, which is about double the revenue reported by those jurisdictions last November.

Handle sits at $4.75 billion, meaning there needs to be more than $2.3 billion reported by the remaining eight jurisdictions that have not yet reported compared to October.

It should be close: those eight states, which includes Colorado, Illinois, Tennessee and Virginia, combined for $2.325 billion in wagers for October.

Photo by Jeff Bottari / The Associated Press
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Matthew Waters

Matthew Waters is a reporter covering legal sports betting and the gambling industry. Previous stops include Fantini Research and various freelance jobs covering professional and amateur sports in Delaware and the Philadelphia area.

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