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.