Nevada

Nevada Handle Nearly Unchanged For October, Still Tops New Jersey

Nevada

Nevada’s sports betting handle for October was roughly unchanged from the previous month, according to the statistics released Tuesday by the Nevada Gaming Control Board. However, it was still enough to top New Jersey once again.

The Silver State reported a total handle of $543.4 mm from sports betting, which was a dip of slightly more than one-half of one percent (0.53%) compared to September’s reporting of $546.3 mm. There was an 8.81% win for October in contrast to 9.53% from September. Even with the barely noticeable fall-off in overall handle, Nevada still outpaced New Jersey’s record October figure of $487.9 mm by 10.2%.

New Jersey had posted handles better than Nevada for three months during the summer, but it was also expected Nevada would reclaim the top spot when football season began. That has borne out as football bets accounted for more than 65% of the overall handle at more than $355 mm. That dollar figure was down 5.78% from September’s $377.4 mm total as the house claimed a 7.36% win — well off the 10.35% mark recorded in September.

Year-over-year changes

The year-on-year results, though, showed a 4.5% uptick in football. That is part of the overall positive year-over-year comparisons compared to the month-to-month measurements. Nevada’s total handle was 2.81% higher compared to the October 2018 figure of $528.5 mm, and the rolling 12-month handle of $5.28 billion is 7.99% better than the $4.89 billion reported at this time in 2018.

Sports books also did substantially better in baseball year-over-year with an 11.66% increase in handle to $83 mm, which also accounted for 15.27% of this month’s overall handle. In October 2018, baseball generated a $74.3 mm in handle, which represented 14.06% of the total amount.

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While the drop in the volume of baseball games that comes with the regular season ending contributed to a 32.2% drop in handle from September’s $122.4 mm figure, the house also had a 13.83% win in October — more than double its 6.22% success rate in September.

Parlay betting accounted for just under 2% of the total handle with $10.74 mm. That was down 8.34% compared to September, but that also can be traced to a lower winning percentage for the house — bettors collected on 57.97% of their wagers in October compared to 53.69% in September. The October 2019 handle is barely better than the $10.69 mm reported at this time last year, when the house posted a 25.1% win.

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