Nevada tops Jersey in October win/handle

Dave Tuley  
VSiN.com senior reporter

November 26, 2019 12:29 PM

LAS VEGAS – Nevada sportsbooks outhandled and won more money from bettors than New Jersey in October (and for the second straight month since football season started), according to figures released by the state’s Gaming Control Board early Tuesday morning.

Nevada’s books profited nearly $47.9 million from bettors in October, an increase of 61.68 percent from October 2018, from an estimated handle of $543 million (holding 8.81 percent) compared to New Jersey’s win of $46.4 million from overall handle of $487.9 million (holding a slightly better 9.5 percent).

 

Nevada vs. New Jersey

Sports betting handle

Month                         Nevada                  New Jersey

May                          $317 million          $318 million*

June                        $322 million*        $317 million

July                          $235 million         $251 million*

August                    $287 million        $293 million*

September           $546 million*      $445 million

October                 $543 million*      $487 million

*Won the monthly title

 

Football, especially the NFL though these figures combine both pro and college, is still king and accounted for nearly $26.2 million, which is an increase of 131.61 percent from last October, of Nevada’s win (holding 7.36 percent). It’s important to point out that these figures are down from September when Nevada won $52 million from bettors and nearly $40 million on football. The overall football win doesn’t include the “sports parlay cards” category, which is predominantly on football and the books won an additional $4.5 million on the cards, an increase of 68.2 percent from last October (holding a whopping 42 percent).

Baseball was also an important part of the October sports betting scene with the MLB playoffs and World Series. Nevada books won nearly $11.5 million from bettors, an increase of 39.62 percent, and holding a very high 13.83 percent for the sport. A lot of this can be traced to Mattress Mack, the Houston furniture store owner who famously was hedging a promotion in which he promised to refund purchases of $3,000 or more if the Astros won the World Series. He spread his wager across the country, but obviously boosted the handle and the books’ win in Nevada when he lost his biggest wagers when the Nationals beat the Astros in seven games (though don’t cry too much for him as he didn’t have to refund a reported $20 million in mattress sales).

 

October 2019 Nevada Gaming Figures

Category                                     Win/Loss            %Change             Hold%

Overall                                 $47,887,000             61.68                    8.81

Football                                $26,177,000             131.63                   7.36

Basketball                            $3,539,000              -5.16                    9.80

Baseball                                $11,477,000             39.62                  13.83

Sports Parlay Cards          $4,514,000             68.20                 42.03

Other*                                     $2,179,000           -40.79                    3.73

Horse Racing                      $2,683,000             -5.65                  15.00

%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, MMA and all other sports except

the ones listed individually

 

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