Nevada punters set new monthly sports betting record

Nevada sportsbooks processed a record $571m (£448m/€504m) in wagers during September, handing the state a major boost amid mounting competition from legal sports betting in other markets across the US.

The amount represents the largest monthly total since records began in 1984, surpassing the previous record of $565m in October 2017.

Sportsbooks also registered a record win of $56.3m in September, just edging out the previous high of $53m set exactly six years earlier.

American football once again proved the most popular sport, with the $389m wagered by punters representing just over 68% of all sports bets in the month. Baseball came in second with $131m, or 23% of the market share.

Overall, gaming revenue in Nevada climbed 1.26% year-on-year to $991.2m in September. However, gaming win for the year-to-date was down 2.3% on 2017.

Research company Eilers & Krejcik Gaming recently tipped New Jersey to have a bigger sports betting market than Nevada by 2021, despite having only launched legal sports wagering in June. The report said New Jersey’s yield could increase to $422m by the end of 2021, with Nevada’s only expected to climb to $410m over the same period.

New Jersey is still some way behind Nevada even though licensed sportsbooks in the state accepted about $184m in September, double the amount processed in August.

Aside from New Jersey, sports betting is now legal in Delaware, Mississippi and West Virginia, while Rhode Island and Pennsylvania have both passed laws to regulate wagering and expect to launch their markets in the coming months.

However, a host of other states are also discussing the possibility of legalising sports betting, with the likes of Colorado, Illinois, Indiana and Washington D.C. among those keen to push ahead with regulation.

Image: Tom Lianza