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Nevada sports books win down in February due to barely profitable Super Bowl LII

By Dave Tuley  (VSiN.com senior reporter) 

March 28, 2018 10:25 AM

LAS VEGAS – Nevada sports books won $10.69 million in February, down 48.47% compared to February 2017 thanks mostly due to a barely profitable Super Bowl LII.

When the Philadelphia Eagles upset the New England Patriots 41-33 as popular 4.5-point underdogs, the books won a mere $1.17 million. Overall, the state’s books lost a combined $2.57 million on football in February, down a whopping 136.25% from February 2017. The rest of that loss is attributed to future-book payoffs on the Eagles as well as any earlier winning tickets that bettors waited to cash until Super Bowl Week. (Note: this all should be a warning sign to other states that sports betting isn’t an automatic win and the margins can be small.)

Saving the books’ bottom line for the month was a win of $11.64 million on basketball (like football, pro and college basketball are combined in one category), though it was just a 0.68% increase from last February. Hockey is still part of the “other” category, which show a profit of $1.39 million, though down 7.57%.

Baseball was a loser again at -$222,000, but as I’ve written each of the past three months, most of that’s a carryover from books paying out tickets from the 2017 season though there were exhibition games the last month of February.

All of this didn’t keep books from posting their 55 th straight winning month since July 2013.

 

February 2018 Nevada Gaming Figures

Category                      2018 Win/Loss %Change         Hold%

Overall                          $10,691,000      -48.47               2.60

Football                        -$2,570,000      -136.25             -1.72

Basketball                     $11,637,000      0.68                  5.45

Baseball                        -$222,000         55.37                -25.77

Sports Parlay Cards      $449,000          -58.28               11.79

Sports Pari-Mutuel         $4,000              -71.19               23.78

Other*                           $1,393,000       -7.57                3.16

Horse Racing                $3,572,000       2.63                  16.09

%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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