$77.1 million November Nevada sports betting revenue breaks record
Regulated sports betting in the United States is one of the biggest success stories in the gambling industry over the last 12 months. In state after state, regulators are reporting eye-popping revenue numbers that are quite pleasing to the folks at state revenue departments.
But the phenomenon of is not isolated to states where legal sports betting is a quarantine novelty. In Nevada, where this category of wagering has been legal for decades, bookmakers are reporting absolutely boombastic numbers. More specifically, November 2020 marked the record handle for Nevada sportsbooks with an astonishing $61.8 million in revenue. That translates into $4.2 million in revenue that will go directly to the State of Nevada.
In one of those turns that are unique to the gambling world, November 2020 did not break the state’s record for largest sports betting handle (the total amount wagered on sports during the month). That number, which was $609.5 million in November, broke the record with $659.2 million in October.
It should come as no surprise to anyone following the US sports betting market that the lion’s share of those Silver State wagers were that Great American Pastimes…football. According to LegalSportsReport.com, more than $500 million of that total was wagered on either college or NFL football. Approximately $56 million of the revenue collected on November sports betting was directly attributable to football. November 2020′s sports betting numbers also benefited from the fact that there was an extra Sunday on the calendar that allowed five games to be played during the month.
Nevada’s big sports betting November is a breath of fresh air for casino operators given the fact that they can currently only operate at 25 percent capacity.