Nevada’s Sports Betting Handle Declines in December
Nevada’s sports betting handle declines in December as the pandemic continues, and casinos have a reduced capacity in accommodating guests and gamblers. A lot of gambling software providers in the state are taking in the slack, but regulations also limit new gamblers in some ways. In December, the sports betting handle of Nevada is $588.5 million. This is 3.4%, or around $0 million less than the previous month.
November’s betting handle was $609.4 million. The handle included in all data include both online and retail sportsbooks. Casinos and brick and mortar sportsbooks are suffering from lower revenues because of the pandemic. Currently, if they are not temporarily closed, their occupancy is severely limited, usually by around half.
Nevada’s Sports Betting Handle
However, online betting should be able to save the local market. Ideally, that is. Like many bookie pay per head features, people can sign up and place bets through an app or website. But in Nevada, people will need to register in person in a casino or retail sportsbook first. Very counterintuitive, especially when becoming a bookie the fast and easy way is done online. Sportsbooks going online and making it easy for people to bet is the key to getting more action and revenue during these trying times.
The mobile sports betting handle in Nevada for December represents 59.8% of the total handle. This is $352.2 million in wagers. It is $2.4 million higher than November’s mobile handle of $343.9 million. This is lower if you compare it with the biggest betting markets in the US. New Jersey, Colorado and Pennsylvania, for instance, have over 90% of wagers done online. Again, simply removing an in person registration requirement would probably help the Nevada sports betting market recover from the dip towards the end of 2020.
