Nevada Smashes Sports Betting Records

Nevada Smashes Sports Betting RecordsThe US state of Nevada has posted the largest monthly total in sports betting wagers since official records commenced back in 1994. This was for the month of September, and amidst growing competition from other states, now that betting has been has been legalised in the United States.

A record of $571 million in wagers was posted for September 2018. The previous record was recorded in 2017, when October saw sports betting income of $565 million. What’s more, record wins were also on the cards, with September in at an all-time high of $56.3 million in winnings for the month.

Football Remains King

The most popular sport came as no surprise, with American Football once again raking in the numbers more than any other sport. $389 million in wagers were placed on American Football games, which constitutes 68% of the total wagers received.

In second place, the award goes to Baseball, with $131 million in bets received, and accounting for 23% of the Nevada sports betting share.

New Jersey To Trump Nevada Soon

According to research company Eilers and Krejcik Gaming, by the time 2021 rolls around, New Jersey will have a larger sports betting market than Nevada, despite only recently having been able to come to the party. According to the report by the researchers, New Jersey could very well see income to the tune of $422 million in 3 years’ time, with Nevada’s figures expected to climb to an overall average of $410 million.

For the moment, New Jersey still has some catching up to do, with sportsbooks having received bets to the tune of $184 for the month of September. This figure may seem relatively small when compared with Nevada, but it must be mentioned that constitutes exactly double the amount that was processed in August.

The market has grown considerably over the last couple of months. Besides for New Jersey and Nevada, sports betting is legal in Delaware, West Virginia and Mississippi. Rhode Island and Pennsylvania have both finalised their legal processes in order to join the group and are expected to also come to the party over the course of the next couple of months.

In addition to these, more have expressed interest in the legalisation of wagering activities, including Washington D.C.

Sources:

http://www.igamingbusiness.com/

Posted on November 05th, 2018 by Olivia Mathews