Nevada Sees Dip in February Sports Betting Handle & Revenue
After a successful January to open the new year, Nevada saw a dip in sports betting handle in February. As with other states, the decrease was expected with fewer days and one less weekend of betting opportunities than in January.
Sportsbooks in Nevada had $554 million in total sports handle in February, a decrease of 14.3% from January’s $646.5 million. Year over year it was a 12.7% increase over February 2020 ($491.7 million), according to official figures released Thursday by the Nevada Gaming Control Board.
The mobile sports betting handle in Nevada was $316.3 million, down 13.0% from January’s $363.7 million and up a solid 44.6% from February 2020 ($218.7 million).
The total handle includes retail betting and online wagering in Nevada. However, sports bettors in the state are required to register in-person at casinos. The mobile handle in Nevada in February was 57.1% of the total handle, about the same as it was in January.
Nevada is the only state that requires in-person registration. In-person registration is still part of the Illinois sports betting law, but Gov. JB Pritzker has been suspending his state’s requirement month-to-month because of the coronavirus pandemic.
Nevada Sports Betting February vs. January
|Total handle||Mobile handle||Revenue|
|Change||Down 14.3%||Down 13.0%||Down 39.2%|
Other Key Numbers from the Nevada Report
The state’s sports betting revenue was $31.8 million in February, according to the report, down 39.2% from January’s $52.4 million and a decrease of 16.3% from $38.1 million in February 2020.
February’s total gaming win was $772.4 million, up $10.6 million from January’s $761.8 million. A year ago, the mark was $1.04 billion.
By sport in February, Nevada saw $325.93 million in bets placed on basketball and $133.65 million on football. Hockey rounded out the top three with $39.53 million. “Other” wagers posted at $53.79 million.
Nevada Gaming Control Board figures show $136.1 million was wagered on this year’s Super Bowl. That was still the highest among states, but it was down from last year’s Kansas City-San Francisco game, where the handle was $154.7 million. But this year, the coronavirus pandemic hurt out-of-town tourism that would have contributed to the Super Bowl retail action in Nevada.
Nevada vs. New Jersey Sports Betting Handle
|February 2021||$554.058M||$742.953M||NJ by $188.9M|
|January 2021||$646.492M||$958.718M||NJ by $312.2M|
|December 2020||$588.493M||$996.311M||NJ by $407.8M|
|November 2020||$609.377M||$931.620M||NJ by $322.2M|
|October 2020||$659.899M||$803.096M||NJ by $143.2M|
|September 2020||$575.144M||$748.588M||NJ by $173.4M|
|August 2020||$474.948M||$667.979M||NJ by $193.0M|
|July 2020||$163.552M||$315.119M||NJ by $151.6M|
|June 2020||$78.152M||$165.015M||NJ by $86.9M|
February a Down Month Everywhere
With fewer days, February traditionally sees lower handle and revenue figures in legal sports betting states than January. Nevada’s February handle placed it second behind New Jersey but ahead of Pennsylvania. Here are how states have fared in February:
- New Jersey’s February sports betting handle was $743 million. That ended a string of three straight months with more than $900 million in sports handle. February was down 22% from January in New Jersey. The state set the national record in December 2020 at $996.3 million.
- The Pennsylvania February total sportsbook handle of $509.5 million was down 17.2% from January’s state record of $615.3 million.
- February was Michigan’s first full month of online sports betting (it launched Jan. 22) and the state reported an online handle of $301.8 million. It also had $23.7 million in retail handle from the sportsbooks at the three Detroit casinos.
- The Indiana sports betting handle in February was $273.9 million, a drop of 21.4% from January when the handle hit a state record $348.2 million.
- February’s $143.62 million in Iowa was a drop of 4% from the previous month. In January, sports wagering handle in Iowa reached a record $149.52 million.
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