Online Sports Betting Numbers Rise to Record Levels in November
November 17, 2020
There should no longer be any doubt about the fact that Americans love betting on sports. In the 29 months since the U.S. Supreme Court lifted the nation's ban on legalized sports betting activities outside of Nevada, sports betting handle and associated revenue numbers have been smashing records on a monthly basis.
It's important to remember there were concerns about what would happen in states that allow sports betting when the COVID-19 virus lockdowns forced major sports leagues to the sidelines. Based on numbers reported for September and October, those concerns have been alleviated.
One of the rising stars in the U.S. sports betting market is the state of Indiana. In what has to be considered a surprise, Indiana sports bettors wagered an amazing $231 million in the month of October. That's a solid follow to the month of September when bettors pushed more than $207 million through the wagering windows, both months setting records.
Over the year since Indiana bookmakers started taking wagers, an estimated handle of $1.6 billion can be attributed to Indiana sports fans who love to bet on sports. It's worth noting that approximately 85% of all sports bets made across the state came in via mobile sports betting apps
Numbers Across the Nation
Nationwide, the numbers are even more impressive. During September, U.S. bookmakers reported more than #2.4 billion in sports betting handle. The states came in ranked as follows: No. 1 - New Jersey ($748 million), No. 2 - Nevada ($575 million), No. 3 -Pennsylvania ($462 million), No. 4 - Indiana ($231 million), and no. 5 - Colorado ($207 million).
With the exception of Nevada, each state's September handle set monthly records. For Nevada, the %575 million fell short of the $614 million recorded in November of 2019.
After decades of understandable dominance in the sports betting market, it's strange to see Nevada's sports betting handle falling so far behind New Jersey's numbers on a consistent basis. It's something Vegas operators expect to change once customers are allowed to return to Vegas casinos en masse. It's worth noting that while Vegas' properties have been shuttered due to the virus, a number of casinos took the opportunity to make significant changes to the casinos and retail sportsbooks.
In an interview with the Las Vegas Sun, AG Burnett, former chairman of the Nevada Gaming Control Board, told reporters:
“No other state has the numbers Nevada has for gaming tourism. When you look at sportsbooks, they were traditionally an amenity for hotels, but that’s been changing. I think as legal sports betting increases in popularity, Las Vegas will increase in popularity.”