Nevada sports betting revenue grows in February

According to figures released by the Nevada Gaming Control Board (NGCB) last week, Nevada’s sports betting revenue grew in February.

The NGCB’s figures show that a total of $458m was wagered on sporting events in February, a 10% year-on-year increase on the $411m wagered in February 2018.

Nevada’s sportsbooks managed to hold on to about $35.8m of the $458m wagered on sporting events. This time last year, sportsbooks in Nevada only generated $11m in revenue.

Looking closer at the figures, basketball was the most popular sport to bet on for the second consecutive month.

Over $250m was wagered on basketball events at Nevada sportsbooks, accounting for half of the total wagered on sports in February. Nevada’s sportsbooks managed to hold on to just under $20m in basketball bets. In January, Nevada wagered $256m on basketball and sportsbooks held on to $5.8m of those bets.

Football was the second most popular sport to wager on in Nevada. Sportsbooks took over $142m in football bets and held on to $11m of those football wagers.

Nevada bettors wagered $1.2m on baseball events. These included future bets and spring training games. Nevada’s sportsbooks made a loss of $267,000 on these wagers.

Elsewhere in the US, New Jersey’s sports betting handle for February reached $320m and sportsbooks generated a combined revenue of $12.7m.

For an in-depth look at each state’s sports betting statistics check out our stats page.

 

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