Nevada sportsbooks report revenue drop for October

Sportsbooks in the state of Nevada reported a combined revenue of $29.5m for the month of October, almost half of the $56m in revenue reported in September.

Not only did revenue decrease but so did the total amount of money wagered on sports in the state.

In October a total of $528.5m was wagered on sports, a slight decrease when compared with September’s record-setting sports betting handle of $571m.

Looking deeper into Nevada’s figures, over $74m was wagered on baseball with sportsbooks holding onto $8.2m.

Over $51.6m was wagered on basketball in October with sportsbooks holding onto $3.7m of these wagers.

Parlay wagering was also fairly popular in October with bettors wagering $10.7m and sportsbooks winning back $2.7m

Auto racing, golf, tennis and NHL events accounted for $51m in wagers with sportsbooks holding onto $3.6m.

Nevada was not the only state to see a dip in sports betting revenue, both Mississippi and New Jersey reported significant drops in revenue for October.

Mississippi sportsbooks reported a $600,000 loss on football wagers while New Jersey sportsbooks revenue dropped by $11.7m.

The state of Delaware also reported a drop in sports betting revenue for October with sportsbooks holding onto just $500,000

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