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

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.