Nevada is back to the top of US sports betting after posting record numbers for monthly revenue in September.
The latest monthly revenue report issued by the Nevada Gaming Control Board indicates that more than $546.2 million worth of sports bets was wagered through the state’s sportsbooks in September. The handle for the month was almost double the $287.7 million booked in August, but 4.4% off the $571 million wagered in September 2018.
The amount retained by operators was $52.1 million, which translates to a 9.54% hold. This is Nevada’s highest sportsbook revenue this year and the second-highest since the expansion of sports betting outside of the state last year. The highest figure was $56.3 million retained by operators in September 2018.
The figures propelled Nevada back to the peak of the country’s regulated wagering industry, with New Jersey clocking in a distant second in spite of setting new records for handle and revenue during the month. The Garden State reported $445.6 million in handle and $37.9 million in revenue.
Football betting reigns in Nevada
Football is a huge market for Nevada bettors, and state’s record revenue numbers can be attributed to the start of the NFL season. Besides, September was the first full month of college football.
According to the NGCB, Nevada bookmakers processed a massive $377.5 million worth of football bets in September, a 524.3% increase from the $72 million wagered in August.
The revenue on football jumped from nearly $12.7 million in August to a whopping $39.1 million in September. The betting handle encompasses wagers placed on both professional and college football events.
Baseball was the second most popular sport at $122.4 million in the handle, up from $17.9 million in August. The sportsbooks’ revenue from baseball betting was $7.6 million.
Just like in previous months, parlay betting posted the highest hold for Nevada sportsbooks in September. The operators retained $5.4 million of the $11.7 million wagered on parlays, translating to 46.2% in hold percentage.
In basketball, the amount of money paid out to bettors was $912,000 more than the total handle for the sport. The other sports category brought in $872,000 from $30.6 million worth of stakes.
Nevada’s casino revenue shoots back to $1 billion
The total amount spent at Nevada casinos in September was $11.96 billion, according to the state’s Gaming Control Board. The licensees retained $1.06 billion, an increase of 11.3% from the $952.4 million reported in August.
$690.2 million or 65.1% of the casino revenue came from slot machines, with penny slots accounting for $311.2 million of the operators’ wins. The combined handle for slot machines was $9.55 billion.
Table, counter, and card games posted $369.1 million in revenue on $2.41 billion worth of wagers. The collective revenue from these games was $34.1 million more than the figures published in August.
A breakdown of the numbers reveals that Twenty One was the most popular game for gamblers in the Silver State having reported $622 million in wagering handle. The casinos won $82.6 million of these wagers. Baccarat, however, was the most profitable game for the casinos after winning $108.5 million on $557.1 million worth of bets.