Sports Betting Expansion Hasn't Hurt Nevada as It Sets Record in January
Sports betting records continue to fall in Nevada.
The state set a monthly handle record in January, taking in $1.11 billion in wagers, up 9.3% from December’s $1 billion and an increase of 71.6% from January 2021’s $646.5 million. The previous monthly sports betting handle record came in October 2021 when Nevada took in $1.10 billion in bets.
Nevada’s online handle of $786.8 million in January was also a new record and 2.8% more than December’s mobile handle of $765 million. The new mark was also 116.3% higher than January 2021’s $363.7 million. Mobile sports betting made up 70.9% of Nevada’s total January sports betting handle. Nevada’s previous online handle record was $777.2 million, set in November 2021.
Sports betting revenue in January for Nevada came to $49.9 million, 213.3% more than December’s $15.9 million and down 4.6% from January 2021’s $52.4 million.
Nevada’s January total gaming win was $1.07 billion.
Nevada Sports Betting January vs. December
|Total handle||Mobile handle||Revenue|
|Change||Up 9.3%||Up 2.8%||Up 213.3%|
Record-Setting Super Bowl
Nevada’s February sports betting figures will benefit from a record-setting Super Bowl LVI. According to the Nevada Gaming Control Board numbers, a record $179.8 million was wagered on the Super Bowl.
The previous handle high came in 2018 when $156.8 million was bet on Super Bowl LII, with the Philadelphia Eagles topping the New England Patriots 41-33.
Nevada sportsbooks reported a net win of $15.4 million on Super Bowl LVI with the Los Angeles Rams recording a 23-20 victory over the Cincinnati Bengals. It was the fourth-most profitable Super Bowl for bookmakers since Nevada began recording action on the title game in 1991.
Nevada currently has the highest handle of states which have reported Super Bowl figures. New Jersey ($143.7 million), Pennsylvania ($68 million) and Illinois ($60.5 million) have the next highest reported Super Bowl handles so far.
Most Bet Sports
With the football season ending, basketball was the most bet on sport in Nevada for January, taking in $504.9 million in handle. Football was second at $453.9 million, while hockey ($75.3 million) and other sports ($71.3 million) followed. Parlay cards accounted for $3.9 million of the total handle.
With only the Super Bowl and a shorter month, February typically sees lower handles across the country compared to other months. But all states should receive a boost in March with March Madness and the men’s and women’s college basketball tournaments taking place.
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