Nevada sports betting revenues decreases in January

The sports betting revenues in Nevada witnessed a fall in January, mainly because increased winnings by the customers. The total amounts wagered touched a record high of $497.0m.

Total sports betting revenue was $14.7m, a decrease of 41.7 per cent year-on-year. Overall handle was at $497.0m, an 18.8 per cent increase on the $418.6m recorded a year ago.

American football win was up 5.52 per cent year-on-year to $7.78m, with handle in January at $188.26m, up on the $179.61m in 2018. Football win percentage was fairly flat at 4.13 per cent compared to 4.35 per cent a year ago.

January ended a successful three-month period in which operators generated revenue of $57.78m from betting on football, a period including the National Football League playoffs and Super Bowl, up 40.13 per cent year-on-year and at a win percent of 6.43 per cent.

Other sports fared less well, with basketball win down 62.0 per cent to $5.85m due to favourites winning. Basketball handle was at $256.71m, up 27.2 per cent on January 2018.

A loss of $1.10m was recorded on baseball as punters cashed in their betting slips several months after the Major League Baseball (MLB) season concluded.

Overall statewide gambling revenue was at $984.5m, a 3.0 per cent decline compared with January 2018. Both baccarat and blackjack saw revenue fall over the month.