Nevada Betting Football Boost
When the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, it broke Nevada’s monopoly on the betting market. Many experts in the industry foresaw a drop in Nevada’s revenues from betting as more states offered players different options.
Such predictions look silly now. In September, Nevada took in $786.5 million through bets. That is a staggering amount that dwarfs other states with legalized gambling. The title of most betting handled belonged to New Jersey, which took in over $1 billion in bets over September. That does not, however, diminish the achievements of Nevada.
This article breaks down those numbers to see the areas where Nevada’s betting is strongest and the impact the NFL season is having on bets. If you want to make your own bets read our sportsbook reviews to make sure you pick the best sportsbook for you.
Nevada’s Online Betting
Nevada still has its long history with gambling, with cities like Las Vegas famous for casino offerings. That’s why it’s not surprising to see that only 63% of the handle or $495.3 million came from online sportsbooks. That may sound like a lot, but this number is relatively low compared to states like Colorado that brought in $402.8 million from online betting, or 98.7%. Nevada’s famous land-based may explain this difference with other states, but it also makes its online betting numbers appear much more average.
Of course, as impressive as it is to handle such a large amount of bets, there are monetary reasons behind Nevada’s support of betting, and that is revenue. Did this massive uptake in betting result in increased revenue for Nevada? For the most part, yes. Nevada’s sportsbooks produced a hold from the month of 6.9% gave them a revenue of $54.2 million. This was the third biggest from the state on record, less than November 2020 and September. We can extrapolate from this that Nevada doesn’t have quite as large a hold as those months, but that will be only a minor concern.
Sports Betting Performance
The numbers paint a picture of truly how dominant football betting is on Nevada’s online wagering numbers. Football betting brought in 61% of the handle or $477.1 million. That total dwarfs other sports, with baseball being the closest competitor with 28%.
The reasons for this are hard to nail down, but it is hard to deny that online sports betting has integrated itself into the NFL incredibly well. Many franchises have opened sportsbooks for players to use at stadiums, such as the Baltimore Ravens. In addition to this, odds like moneylines and spreads are being used in NFL analysis this season. Betting operators are permitted more advertising slots during TV coverage of games. If you’re watching the NFL, betting is everywhere. If there were questions about whether these aggressive tactics were working, these numbers surely answered them.
There are other reasons for football’s dominance. The basketball season didn’t start until October, which means the sport could take a more significant portion of the market in the future. In addition, this season marks the first in watch Nevada sports fans can visit the stadium of their newly rebranded NFL team. Fans watching Las Vegas Raiders games may have been more tempted to place a wager amongst all the excitement.
Whatever the reasons, with a hold of 7.6%, football betting brought in $36.3 million in revenue for Nevada. These trends seem to track across most states with legal online sports betting, and experts will watch with interest if these numbers can be maintained as other sports come to the fore.
Legal Football Betting in the US
If you haven’t been betting on football this season, now is the perfect time to start. Since the repeal of the PASPA, states like Michigan, Pennsylvania, Iowa, Indiana, and more have legalized online sports betting. If you are currently in one of these states, you can join in the fun. Simply download a sportsbook app to your phone, and start placing bets on the NFL.
Sugarhouse is owned by Rush Interactive, which is one of the most prominent providers of online sportsbook and casinos in the country. In 2016, SugarHouse launched it online casino in New Jersey, joined by its online sportsbook in 2018. Since then, it became a leading casino and sportsbook for Americans. Check out their fantastic bonuses, games and bets available, and see yourself why when it comes to casino and sports betting in the USA, Sugarhouse is a Powerhouse
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