Nevada Sportsbooks Handle $474 Million In August, Setting New State Record For Month

There was serious pent-up demand for gambling on sports via Nevada sportsbooks, as handle was up more than 60% year-over-year in August
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Nevada’s sportsbooks handled $474,469,273 in wagers in August, a huge month compared to the handle the year prior. It was a record August for the Nevada sports betting industry.

The pandemic shutdown of sports in the spring resulted in sports action coming back in a big way this summer. The Nevada sportsbooks handled $287,757,296 in August 2019. The number was $247,622,790 in August 2018.

Mobile accounted for $305,194,444 of last month’s handle, or 64.3%.

The books won $16,986,000 last month, a decline of nearly 10% year-over-year — so gamblers fared much better this year. It’s all good for the books, who know how to deal with the variance.

Nevada had a strong August, but New Jersey was king. Garden State sportsbooks handled a record $667,979,150 in August. It wasn’t just a New Jersey record, but also a new U.S. sports betting industry benchmark for a single month.

Baseball, basketball numbers

Nevada books won $9,005,000 and $7,561,000 from baseball and basketball, respectively.

The non-parlay handle for baseball was $175,194,552, and the basketball non-parlay handle was $193,871,794. Combined, those two sports accounted for more than 77% of the August handle.

Every other sport combined accounted for less than a quarter of the betting handle.

Nevada’s gain vs. New Jersey’s gain

New Jersey overtook Nevada for the first time in the summer of 2019, with Nevada holding onto its crown for the football season. That advantage for the Silver State appears to be over, especially with a pandemic in the mix.

New Jersey’s handle in August grew 127.5% compared to August 2019.

Nevada’s handle was up 64.8% year-over-year last month.

The pent-up demand for gambling was there, but New Jersey is putting some space between itself and Nevada, a state without remote mobile sports gambling registration.

Since PASPA was overturned, New Jersey has handled $8,367,567,839 in bets, compared to at least $10,191,747,104 for Nevada, with a precise figure not known because the Nevada Gaming Control Board redacted figures from April and May of this year.

Image credit: Lucky-photographer / Shutterstock.com

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