Nevada Sports Betting Handle Soars To $5.3B In 2019

More records for Nevada with $5.3 billion bet in 2019 and about $330 million in winnings from those wagers, per state figures.

Nevada sportbooks had their best year ever in both handle and revenue.

According to state figures made public Thursday, the books handled $5.31 billion in wagers in 2019, up from last year’s record of $5.01 billion. Revenue grew 9.5% in 2019 to $329.1 million.

The $301 million won in 2018 was also the previous record.

The Nevada casinos won more than $12.03 billion from gamblers in 2019. Sports betting accounted for about 2.7% of the revenue, a new all-time high percentage. Sports betting hovered around 1% in the 1990s and early 2000s, according to data from the UNLV’s Center for Gaming Research.

The legal sportsbooks had a win percentage of 6.2% in 2019, a very strong year against gamblers, as the average since the 1980s is about 5.55%.

Nevada was the largest legal sports betting market in the nation in 2019, though New Jersey had about $4.6 billion in handle and should eventually overtake the Silver State.

Unlike New Jersey, Nevada doesn’t release a breakdown between retail and internet betting handle. In New Jersey, online is approaching a 90% share. Nevada is expected to release that data in 2020.

Drop/revenue by sport

Football: Roughly $1.9 billion in handle was up from the record $1.8 billion in 2018. Revenue of $122.4 million bested 2014’s record of $113.7 million.

Basketball: Handle of about $1.7 billion was up from 2018’s record $1.5 billion. Win of $94.4 million was off from 2018’s record $99.6 million.

Baseball: About $1.1 billion in wagers eclipsed 2018’s mark of just over $1 billion, but it was about equal to 2017’s record handle. Revenue from the game was $57.2 million, up from a record $47.1 million in 2018.

Other: About $590 million was bet on the other sports, up from 2018’s record of about $560 million. Nearly $41 million in winnings were up from 2017’s record of $32.3 million.


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