Nevada Sports Betting Handle Record-Setting $614M in November

Nevada Sports Betting Handle Record-Setting $614M in November

The U.S. sports betting explosion continued during November thanks to a record-setting showing by Nevada.

According to the latest report filed by the Nevada Gaming Control Board, the state’s sportsbooks combined for a record monthly handle figure of $614 million during November. That is also the highest single-month handle for 2019 to date in any state and was 5.7% higher than November 2018 in year-to-year figures.

Additionally, Nevada is the first and only state to eclipse the $600 million mark for a month in the U.S. market. The next closest competitor to the longtime sports betting king was New Jersey, which set its own state record during November at $562.7 million. Nevada’s November sports betting revenue surpassed $31 million.

Now, it seems the two giants of the increasingly competitive American sports betting scene, Nevada and New Jersey, will continue to duke it out over the next few years to determine which of the betting markets will ultimately become the county’s sports betting capital.

For now, of course, it remains Nevada.

Nevada Sports Betting November 2019 vs. November 2018

Nov. 2019Nov. 2018Change
Total Handle$614.071M$580.694M+5.74%
Gross Revenue$31.102M$27.136M+14.6%

Football Huge Boost to November Handle in Nevada

The huge handle posted in Nevada was primarily driven by football betting, as always in the fall.

According to the report, the November handle attributed to pigskin action was $384.6 million. Basketball followed in second place at $166.6 million.

Betting action in football and basketball includes the NFL and college football games that seem most important during November as well as pivotal early-season NBA and NCAA basketball matchups that happen multiple times a week.

There was just over $240,000 in bets made on baseball futures during the month, and parlay cards saw $11.2 million in action. Bets in other sports made up the rest of the handle at almost $51.4 million.

Nevada vs. New Jersey

NevadaNew JerseyWinner
November Handle$614.071M$562.676MNV by $51.4M
October Handle$543.921M$487.925MNV by $56M
September Handle$538.226M$445.563MNV by $92.7M
August Handle$243.337M$293.595MNJ by $50.3M

Football Season is Sports Betting Peak

The previous state record set by Nevada was $596.8 million back in March 2019. That had been the highest monthly handle for any state ever.

Nevada had been challenged for sports betting supremacy during the middle part of the year when New Jersey's top sportsbooks posted larger handles in three out of four months beginning in May. That came just one year after the Supreme Court’s landmark decision had lifted the decades-long federal ban on sports betting that kept other states from competing with the longtime kingpin, Nevada.

But once football season began in earnest in September, things changed dramatically. Nevada topped New Jersey for two straight months during September ($538.2 million to $445.6 million) and October (543.9 million to 487.9 million) despite having what most betting experts consider a clunkier and more disruptive online betting environment that requires bettors to register in person before placing mobile bets.

Nevada has around a third of New Jersey’s population – a bit more than 3 million compared to nearly 9 million for New Jersey – so the assumed regular, in-state betting pool is much smaller.

But Nevada topped New Jersey for the third straight month during November ($614 million to $562.7 million) during the busiest betting season of the year, partly thanks to the draw of Las Vegas as a travel destination.

A third state to be reckoned with in this competition is Pennsylvania, which has not had active sports betting as long as New Jersey nor, of course, for the decades that Nevada has had it.

Still, Pennsylvania and its top sportsbooks are coming on strong, having set a state record in November with $316 million in sports betting handle for November.

Through November 2019, Nevada remains the sports betting champion of the U.S. market. As legal sports betting expands throughout the country in 2020, how long will The Silver State stay on top?

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