The Nevada Gaming Control Board is elated with the latest sports betting performance in the state. It revealed that the industry hit a record handle of $614.1 million generating $31 million in winnings.
Hitting a new record
With Nevada’s latest sports betting report, we witness the first time that a state’s betting handle has crossed the $600 million mark in a month. In March 2019, Nevada came close to this number at $596.8 million but couldn’t go any further. New Jersey also crossed the $572.7 million in a month, marking only the second time that a state tried to aim this high. However, we must note that this is the second time in two straight months that the combined betting handle of Nevada and New Jersey has crossed $1 billion.
Over the course of the 12 months preceding November, the sportsbooks in Nevada reported $336.9 million in winnings, marking a 15.8% increase over the winnings of the previous 12 months. During this time, the handle of the state increased from $4.93 billion to $5.3 billion marking a 7.5% spike.
Difference between Nevada and New Jersey
Punters in Nevada are betting the most on football which totaled $22.5 million in November alone and $384.5 million around the year. Apart from football, punters are also wagering extensively on MMA, hockey, and baseball in the state.
Both Nevada and New Jersey are competing to become the top sports betting in the US. However, Nevada has a stronger market because Nevada required punters to opt for in-person registration. However, mobile betting is growing exponentially across all the states in the US that have legalized their markets. New Jersey mobile betting accounts for 86.5% of the state’s bets in November. Some people speculate that the New Jersey market could surpass that of Nevada in the months to come.