It has been announced that there were record sports betting numbers in Nevada in the month of February after taking in $380 Million throughout the short month. These revenue numbers were released by the Nevada Gaming Control Board after the NFL announced the move of the Oakland Raiders to Las Vegas.
The $380 million in bets was the most Nevada has ever seen by a substantial margin with a record-breaking handle of $138 million coming from bets on the New England Patriots and the Atlanta Falcons in Super Bowl 51. To put that into perspective, Nevada barely surpassed $300 million last year and before then had never broken that $300 million barrier and the Super Bowl numbers were more than $6 million more than the previous record set in 2016. Legal Nevada gambling has never been so profitable.
Betting on basketball in the NBA and college had a solid month as well, profiting $18 million for the Nevada sportsbooks.
Nevada Sportsbook Revenue
As far as the actual sportsbooks in Nevada go, the revenue made from them had a significant dip in February when compared to 2016. They brought in less than $21 million this February after doing over $28 million last year. This is in terms of growth is concerned, it’s what the handle is that matters most because the revenue fluctuates so rapidly as the months and sports seasons pass.
With these large numbers, it’s safe to assume that Nevada sportsbooks came out on top of bettors for the incredible 43rd straight month. The last time the public beat the sportsbooks in Nevada was in July of 2013.
The Future Of Nevada Sports Betting
Next on the docket for Nevada sports betting is to focus on one of the most popular sporting events to bet on in the United States, March Madness. The single elimination style tournament is made for gambling and Nevada usually enjoys some very lucrative months after the NCAA Tournament. In fact, last year Nevada did nearly $460 million in handle so depending on how the tournament shakes out, they could be expecting a half a billion in revenue this March. A big month would go a long way for Nevada sportsbooks going into the slower summer months after the NBA and NFL have closed out their seasons.
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