Nevada Sports Betting Numbers on the Move Again
March 2, 2021
While the rest of the nation's bookmakers have been experiencing month-over-month growth over the past few months, the state of Nevada had been reporting declining numbers. It happened for two straight months with December's handle coming in at $588 million, which was the first time the state had dipped below the $600 million levels over in several months.
As the January numbers came rolling out, it was all good news. For January, Nevada bookmakers had collectively received $647.7 million in sports betting handle, which translated into bookmaker revenue of $52.5 million. That was really good news as the 8.1% win rate represented an increase of over 29% as compared to December.
January marked the third time over the last four months that Nevada bookmakers were able to eclipse the $600 million mark. The $647.7 also hits the number two spot of the all-time Nevada sports betting handle list, only topped by $659.2 that sports bettors pushed through the windows last October.
The large increase in the handle can likely be attributed to the NCAA FB bowl season as well as the first three rounds of the NFL's march towards the Super Bowl on February 7, 2021. As bookmakers throughout the country continue producing record numbers each month, it will be interesting to see what comes out of Nevada, New Jersey, Pennsylvania, and Michigan after the big game.
Mobile Betting Still Lagging in Nevada
While the rest of the nation's bookmakers have seen amazing numbers come from their mobile sports gambling platforms, Nevada's numbers continue to lag. For January, 56.2% of the total handle went through mobile gambling sites. While that is pretty much in line with the numbers the state has been reporting over the last few months, it pales in comparison to states like New Jersey. In the same month, New Jersey's mobile sports betting revenue accounted for more than 92% of the total handle of $886 million.
After a closer look into the reasons for such a difference, one can only surmise that it relates to the fact Nevada legislators have not yet passed the right legislation. That would legislation that permits Nevada sports bettors to register for betting accounts online. It is hard to look past the fact that New Jersey has reported taking in more than $6.4 billion of wagers via smartphones and computers. Since the story is the same throughout the country, It should be clear that the politicians in Nevada need to get something done.