Nevada sports books set more records (2018 & December)

Dave Tuley  
VSiN.com senior reporter

January 31, 2019 03:31 PM

If there’s been any cannibalization of Nevada’s top spot in this country’s sports betting industry, we haven’t seen it yet.

Nevada sports books took a record $5.01 billion in bets in 2018 and won a record $301 million, according to figures released Thursday morning by the state’s Gaming Control Board. The record win was nearly 21 percent more than the previous mark of $248.7 million set in 2017. Nearly a third of that profit, $102.4 million came from betting on football (the GCB doesn’t separate NFL and college football), with $99.6 million on basketball (again, that’s college and pro combined) and $47.1 million on baseball.

The books held 6.01 percent of all wagers with 5.65 percent on football, 6.6 percent on basketball and 4.6 percent on baseball. Parlay cards (and football makes up the vast majority of those) held 24.1 percent.

This all happened during a year in which the U.S. Supreme Court overturned the national sports betting ban known as PASPA in May and opened the door for states to legalize sports betting within their borders. Since then, seven states have started taking bets, including Delaware (which started taking bets on June 5), New Jersey (June 11), Mississippi (Aug. 1), West Virginia (Aug. 30), New Mexico (Oct. 16), Pennsylvania (Nov. 15) and Rhode Island (Nov. 26).

But while those states continue to grow, so has Nevada.

The GCB released December gaming figures at the same time. Nevada sports books won $44.1 million last month (a 27.75 percent increase from December 2017) with $31.5 million of that coming from football and $7.7 million from baseball. The hold percentage was higher than normal at 7.85 percent with parlay cards holding 30.8 percent.

 

2018 Nevada Sports Betting Figures

Category                          2018 Win/Loss    %Change          Hold%

Overall                             $301,048,000        20.98                 6.01

Football                           $102,458,000        33.24                5.65

Basketball                        $99,602,000          13.92                 6.60

Baseball                             $47,133,000         28.03                4.59

Sports Parlay Cards     $22,907,000          50.87              24.08

Other*                                $28,907,000         -10.74                  5.10

Horse Racing                    $43,015,000          -2.55               15.98

%Change is compared to last year (2017)

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.

 

December 2018 Nevada Sports Betting Figures

Category                       2018 Win/Loss    %Change        Hold%

Overall                             $44,106,000          27.75                7.85

Football                            $31,553,000         36.95               9.42

Basketball                         $7,730,000         -30.16                4.57

Baseball                             -$1,371,000         -25.94    -10,770.82

Sports Parlay Cards      $2,985,000        498.80             30.81

Other*                                  $3,209,000           81.31               6.64

Horse Racing                    $2,883,000         -6.04               16.55

%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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