Nevada Betting Revenue Almost Beats State Record
Much of what you will read in the sports betting and gambling software news features will be about how the market is picking up. With the uptick in activity in sports betting, more and more online sportsbooks will be looking to expand their operations. And if it can lead to better revenue, why not? Look at Nevada, whose sportsbooks have done remarkably well, almost beating the state record for the Nevada betting revenue.
September is the start of football season, which everyone who uses bookie management software knows to be the beginning of a very exciting and profitable peak season. Nevada has 177 sportsbooks, and they have a revenue of $70.6 million. This is only less than a couple of million from the state’s record of $72 million back in 2021.
Nevada Betting Revenue May Increase
Looking at the year-on-year numbers, we can see that the upwards trend could give us even higher numbers in the months to come. This September’s revenue is 34.8% higher than September 2021. We also have higher monthly increases in the betting handle. September’s total monthly sports betting handle is at $760.8 million. This is a whopping 61.2% increase from the $408.9 million August handle.
Those using an online sports betting platform will be encouraged to see that sports betting through online sportsbooks take up 64.6% of the total handle. This is, however 0.7% lower than September 2021, but $491.6 million is nothing to complain about.
This September, both college football and professional football seasons started. The handle for football for the month is $481.7 million, with baseball second at $192.8 million. With basketball season starting in October, the combined handle of both football and basketball can drag the handle higher. Maybe next month, the state can beat its record of the highest revenue.