Nevada Sports Betting Handle is Up, But Still Second to New Jersey

Dominic Thomas September 30, 2020October 3, 2020 Nevada August Sports Betting Handle, Nevada Sports betting

The Nevada sports betting market is on a roll. In the second straight month, the state has managed to double its sports betting handle. The latest gambling industry news all feature a gigantic growth spurt for betting markets everywhere, and Nevada is one of those consistently featured.

However, its numbers are still lower than New Jersey, another state who is on a streak of beating betting records as well. New Jersey records $667.9 million for August. Nevada has a $474.9 million handle. They did, however, manage to beat Pennsylvania’s record of $365 million in this month.

Nevada Sports Betting Handle

According to the Nevada Gaming Control Board, the total handle for August’s $474,948,415 is 190.4% higher than July’s $163,552,029. Looking at the year on year numbers, August 2020 is 65% higher than August 2019’s $287,811,623. These are really strong numbers considering that we are in a pandemic.

Last June, Nevada suffered a loss in revenue, but was able to recover quickly in July, with a $6.2 million revenue. August’s revenue is $16,295,000, 169.8% higher than July. But looking at year on year data, this year’s August revenue is 9.3% lower than August 2019’s $18,733,000.

Gambling Policies in Nevada

Nevada is one of the states that has a lot of retail sportsbooks and casinos. So, pandemic-exempting, the state is probably not too worried about their online wagering numbers. But as many experts believe, the in-person registration requirement in Nevada is actually holding back the earning potential of online wagering in the state.

When looking at what makes a bookie successful, accessibility is one of the key factors on why players tend to stick to a sportsbook. If you look at bookie pay per head reviews, you always see providers try to make their sportsbooks accessible in many different platforms- web and mobile, for instance. This is because you want to make it as easy as possible for people to bet. Having to register in a physical store before they can bet through their phones just seems like a counterproductive policy.