Nevada sportsbooks have reported their January numbers. These numbers reflect some advantages for sports betting created by the NFL’s extended regular season. But more importantly, they say a lot about the growth of sports betting in the state.
January Success
The top sportsbooks are operating in Nevada. BetMGM, for example, has released a betting app that Nevadans can access on their smartphone. They can even take advantage of a nice bonus offer that this reputable sportsbook is currently offering. The Nevada sportsbooks as a whole are continuing to thrive with consistency. They saw over $1 billion in the handle just like in December, November, and October. Beyond just being consistent, Nevada sportsbooks saw exactly $1.1.09 billion wagered. This figure represents a record in handle for the state.
In line with the growth of sports betting around the country in states where it is legal to place wagers on sports, a total of 14 states including Nevada saw a record in handle in January. Sports betting in Nevada as in other states continues to come a long way since last year. Nevada’s handle in January 2022 was up 71.6 percent relative to what it was in January 2021.
Granted, Nevada sportsbooks did not set a record in revenue. Their revenue in January was 4.5% of the handle. It remains a fact that sports betting is almost as big in Nevada as it is anywhere else. Nevada’s January handle was third-highest in the nation after New York and then New Jersey. Pennsylvania sits in a distant third well below the $1 billion mark.
Football but Also Basketball
The unique handle in January likely derives from the fact that the NFL this year has started playing a longer regular season. This extra week of regular season play meant 16 more NFL games to bet on.
Basketball, though, given its daily format, was the sport that Nevadans wagered the most money on.
Despite this fact, NFL brought sportsbooks in the state over three times as much revenue in the month, 36.6 million dollars to be exact.
Close to three-quarters of the handle came from mobile wagering, which underscores the urgency with which other states that still haven’t done so should permit mobile sports betting.
