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Nevada books overall and football win takes dip in October

November 27, 2018 09:59 AM

LAS VEGAS – Nevada’s sports books won $29.5 million overall from bettors in October with $11.3 million of it coming from football, according to figures released Tuesday by the state’s Gaming Control Board.

Those numbers sound impressive but they’re actually down 6.07% and 28.26%, respectively, from the same month last year and a whopping 47.6% and 74.5% from September’s record wins of $56.3 million overall and $44.23 million on football (note: college and pro football are combined). Since September’s numbers were so huge (it was, in fact, the record win for any month, not just September records), a dropoff was expected, especially as anecdotal reports throughout October had bettors faring much better.

The books only held 3.32% of football bets, which is low, especially compared to the 11.4% hold in September. The books won $2.68 million on parlay cards (most of those also being football) in September; that included a pretty standard hold of 25.1%, but the win was down 45.23% from October 2017 and nowhere near the 60.67% hold in September when bettors were really having a hard time connecting the dots on their parlay cards.

Baseball was a bright spot for the books as they won $8.2 million, a 30.82% increase from October 2017. I recall a conversation with SuperBook at Westgate sports book director John Murray on Sunday, Oct. 28, as most people were saying that the books had a disastrous day. He said it wasn’t too bad overall for the SuperBook as they were closing their World Series future book with the Red Sox wrapping up the title. While the Red Sox were a popular pick, their odds were low all season and offset by a lot of action on other popular teams like the Astros, Cubs, Dodgers, Yankees, etc. as well as other teams that got hot at certain times of the year like the Indians, Braves, Brewers, A’s, etc.

Of course, that conversation took place 24 hours before the Monday night, Oct. 29, game when another team from New England, the Patriots, pulled away to beat the Bills 25-6 and cover as popular 13-point road favorites to cut more into the weekend and month’s bottom line.

October 2018 Nevada Gaming Figures

Category                      2018 Win/Loss    %Change         Hold%

Overall                             $29,547,000          -6.07              5.59

Football                              $11,301,000         -28.26             3.32

Basketball                          $3,731,000         -24.88             7.23

Baseball                            $8,220,000          30.82              11.06

Sports Parlay Cards      $2,684,000         -45.23            25.10

Other*                                -$3,611,000        -907.13              7.07

Horse Racing                   $2,847,000         -10.88             16.04

%Change is compared to same month last year

Hold% is percentage the books won/lost from the handle in that category 

*Other includes hockey, golf, auto racing and all other sports except for horse racing.

 

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