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Nevada Casinos Record Sports Betting Surge In November

January 5, 2020 TamaraTam

Nevada Casinos Record Sports Betting Surge In November

slot revenues decline in the second plan.

More About Report

The Nevada Gaming Control Board published the report this past Saturday. The entire gaming industry in the state reached $937.5m in November. Compared to last year’s results, Nevada marked a 3% drop in revenues and a significant fall from the October performance when the state recorded $1.02b in revenues. At the same time, Las Vegas Strip casinos showed a small decline of 3.1% reaching a level of $518m.

According to the Nevada sportsbook results, the state handled wagers worth about $614.1m which was a 5.7% increase and 2.9% better result than the state record from this past March ($596.7m). Additionally, it is the first time Nevada crossed $600m in the sportsbook betting handle.

Results of Particular Games

If we take a look at the results of the New Jersey sportsbook betting sector, we can see that Nevada recorded better figures. Only in November, New Jersey sportsbook operators recorded $562.7m which is lower performance than Nevada. However, New Jersey’s year-on-year betting revenue has exceeded Nevada’s for +14.3%.

Football used to be the strongest market during November 2019. It pushed the betting revenues for an additional $22.5m or 22% on the year-on-year level. At the same time, basketball revenues dropped about ¼ to 8.15m while parlay betting dropped to $2.3m. As for other wagers, they reached a tripled level of $4.2m and Nevada race book revenues dropped to $3.75m.

Nevada sports betting wagering handle could be even higher if baseball bettors hadn’t cashed about $6.2m winning tickets during World Series competition.

The casino industry in the state has recorded slight declines. Slot machines’ revenues fell about $2.9% while reaching the level of $616.7m. At the same time, table games revenues dropped 3.5% resulting in $320.76m. Table games have recorded a decrease in baccarat and craps income.

Poker table revenues come with improvement for the second consecutive month. The game reached $10.7 level in this past November, marking a 18.1% year-on-year increase and $100k lower than October’s figures.

Source:

“Nevada casinos set sports betting handle record in November“, Peter Amsel, calvinayre.com, December 27, 2019

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