Nevada’s Record-Breaking October Handle Not Very Profitable

• Nevada’s $1.3 billion October handle makes it the second state to handle over $1 billion.
• The October revenue was very low in comparison to the record-breaking wagering handle.
• $739 million of the total $1.3 billion handle came exclusively from football wagers.

LAS VEGAS – Nevada may have just made history as the second state to wager over $1 billion in a single month, but in spite of this colossal sports betting handle, books saw surprisingly low revenue in October.

Record Breaking Sports Betting Handle

Sportsbooks in Nevada has now established the second-highest monthly sports betting handle in United States history (for now,) just behind New Jersey’s $1.3 billion handle from the same month.

The Nevada Gaming Control Board October report shows a 39% increase from the previous month’s $786.5 million September handle.

• September 2021 handle: $786,508,562
• October 2021 handle: $1,100,712,575

The new total handle is also a 66.8% increase year-over-year from October 2020 of $659,899,331.

Nevada Sports Betting Revenue

Although October saw the highest sports betting handle to date, the October revenue that sportsbooks brought in was far less impressive.

The October $48.3 million revenue is surprisingly low given the $1.1 billion handle, not even breaking the top five most profitable months on record for Nevada sportsbooks. In fact, October 2021’s total sports betting revenue is the 6th highest revenue month.

Top Five Most Profitable Nevada Sports Betting Months

1. November 2020: $61,807,000
2. September 2018: $56,304,000
3. September 2021: $54,205,000
4. January 2021: $52,381,000
5. September 2019: $52,068,000

Massive Football Handle

More money was bet on sports in October than any month before it, but the most notable of these is football.

Over $729.3 million was bet on football alone, more than last year’s entire October sports betting total, and every recorded sportsbook handle except September.

Top Three Sports Bet On in Nevada (Oct ’21):

• Football handle: $729.3 million
• Baseball handle: $121.7 million
• NBA handle: $110.9 million

Nevada has made history as the second state in the US to handle more than $1 billion in sports wagers, and as the legal sports betting market continues to expand, more records are likely to be shattered.

News tags: football | Nevada