New Jersey outhandles Nevada for 2nd time in July

Dave Tuley  
VSiN.com senior reporter

August 28, 2019 03:50 PM

New Jersey sportsbooks outhandled Nevada for the second time in three months in July as Nevada’s Gaming Control Board released its figures Wednesday morning.

Jersey’s figures for the prior month come out mid-month with the Garden State taking $251 million in sports bets while Nevada’s handle came to just $235 million. New Jersey outhandled Nevada for the first time in May ($318.9 million to $318.3 million) but Nevada bounced back in June ($322.5 million to $317.3 million).

While Nevada has long had a robust local sports betting market, it also relies on a lot of sports betting from tourists. New Jersey has a bigger base within driving distance and its growth has been aided by local residents and out-of-state visitors being to register and deposit on their mobile betting apps while Nevada books still require customers to visit brick-and-mortar casinos to register for mobile betting. Nearly 85 percent of New Jersey’s July handle was on mobile apps.

Nevada’s handle was also down from last July’s monthly record of $244.6 million. However, it wasn’t all bad news for the Silver State. Nevada’s 196 sportsbooks won $10.5 million from bettors in July, which was an increase of 154.77 percent from the same month last year when the books combined to win just $4 million.

The majority of July’s win came from baseball with the books making $8.6 million. The “other” category that includes all other sports besides football, baseball and basketball accounting for another $4.1 million in profits. If you’re noticing that those two figures add up to more than the total win, that’s because the books “lost” nearly $2.1 million on basketball. There was WNBA and NBA Summer League action in July, but most of that “loss” is from bettors cashing future tickets from the NBA season.

Nevada’s overall figures will be much bigger across the board in the coming months as football is still king. New Jersey’s figures are also expected to increase as well and stay ahead of Nevada in the monthly race for most handle, but we’ll see what the impact ends up being from increased competition with surrounding states (and the District of Columbia) adding legalized sports betting.

 

July 2019 Nevada Gaming Figures

 

Category                      2019 Win/Loss %Change         Hold%

Overall                          $10,534,000      154.77              4.47

Football                        -$182,000         -146.83             -8.06

Basketball                     -$2,092,000      -37.40               -12.99

Baseball                        $8,601,000       102.03              4.92

Sports Parlay Cards      $64,000            4.73                  56.05

Other*                           $4,143,000       49.67                9.71

Horse Racing                $3,029,000       -4.71                15.68

 

%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 for horse racing.

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