Nevada’s handle in November did not break any records, but it helped push national handle for the month past $3bn.
According to the latest figures from the Nevada Gaming Control Board (NGCB) bettors in Nevada wagered $609.4m on sporting events in November.
November’s handle marked a 7.7% month-on-month drop from the state’s record handle of $660m in October.
When it comes to revenue, sportsbooks in the state managed to generate $61.8m from sports betting activities in November, a significant 10.1% increase on the $42.4m generated the month prior.
November’s betting activity
Once again, football was the most popular sport to bet on in Nevada with bettors in the Silver State wagering $501.8m or 82.3% of the state’s total November handle.
Nevada’s drop in handle can be attributed to the unusual sports calendar in 2020 due to the impact of the coronavirus pandemic. Normally, November’s sports betting calendar includes NBA and NHL games but in November, neither of these leagues held events.
Market share for mobile betting in the Silver State amounted to 56.4% in November marking a slight dip on the 57.1% market share mobile betting held in October.
Nevada’s handle pushes total US handle past $3bn in November
Thanks to Nevada’s sports betting market’s performance in November, the total US handle in November has been pushed past $3bn.
At the time of writing, total US betting handle for November sits at $3.07bn, a new high for the wider US sports betting market.
There is still room for the total US betting handle number in November to grow as the state of Illinois has yet to report its figures. The betting market in Illinois is growing incredibly fast and in October, sportsbooks in Illinois took $434.3m in bets in October, pushing the total US betting handle in October past $3.25bn.
Where will Nevada’s betting market sit in 2021?
It is too early to say where Nevada will rank in the wider US sports betting industry in 2021.
The Silver State will likely remain as one of the top states for sports betting but there is no guarantee it will still hold second place next to New Jersey. Other states with a much higher ceiling for growth may begin to outperform Nevada.
Some of the more mature betting states like Pennsylvania or even younger states showing early potential like Illinois, Colorado or Tennessee could dethrone Nevada in the future.