New Sports Betting Record Set In Nevada

In September, Nevada's sportsbooks amassed a record $571 million in wagers accepted, which is a bit of good news for the faltered state after the huge momentum gained by numerous other states in this betting segment.

This is the largest monthly total since the records began being kept in 1984 – the previous record was broken in October 2017 with $565 million.

Record Wagers - Record Wins

Beside the never before collected amount of bets, sportsbook also registered a record win revenue of $56.3 million – previous record dates back to September of 2012, amounting $53 million...

Taking the lion's share of sport bets was, as expected, American Football which proved the most popular sport with betting punters. These bets represent 68% of total amount of sports stakes, and the total amount of money wagered on NFL was $389 million.

The second most popular category was baseball with a 23% share of the market and $131 million in wagers...

Taken from another perspective, Nevada's gaming revenue rose 1.26% year-on-year to hit the $991.2 million mark for the month of September, despite the gaming win being down 2.3% on annual basis.

A Welcome Lifeline

These are indeed some much-needed developments for Nevada as most analysts predict that up-and-coming New Jersey could surpass the Silver State’s sports betting market by 2021 at latest.

New Jersey's sports wagering landscape has had a massively successful start to its campaign – despite having only launched in June, it is already collecting hundreds of millions in stakes.

Moreover, in September this year, New Jersey's sports betting opportunities generated $184 million which is more than double comparing to August. However, the state is still a long way from getting even near to Nevada's figures…

Market Is ‘Becoming’ Crowded

The most recent U.S. territories to discuss sports wagering as a possible inclusion to their gaming landscape from 2019 are Washington D.C., Indiana, Illinois and Colorado, with New York admittedly failing to react in time and therefore required to wait the next year to even begin working on the legal framework.

Sports betting is already legal in Delaware, West Virginia and Mississippi, with Rhode Island and Pennsylvania on a cusp of liberalizing their respective sportsbooks as they have both passed necessary legislation.

In September, Nevada's county decided to fund a special diversion court for problem gamblers, offering expert assistance to people with gambling addiction issues.

Source:

“Nevada punters set new monthly sports betting record”, igamingbusiness.com, October 21st, 2018.