Nothing maddening about these numbers

By Vinny Magliulo  (VSiN Oddsmaker) 

March 8, 2017 08:16 PM
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March Madness is here again--and so are the betting dollars.

We’ve talked at length about the Super Bowl being the single-most wagered event of the year–this past one accounted for a record handle of $138,480,000 here in Nevada.

That was a $6M increase over the previous record set in 2016.

But for sustained betting action, the madness that is March is the Super Bowl times two.

In March of 2016, $422,040,000 was wagered on basketball in Nevada sports books with 70% of that action on college basketball.

That’s an increase of $46,538,000 from 2015–yes, another record.

There are several key factors that have contributed to this growth.

First, the public’s appetite for the action. And no place in North America can put up the variety of betting options that we can here in Nevada – sides, totals, money-lines, futures, halftimes, in-progress & proposition wagers give patrons an unequaled entertainment experience.

Along with the sports books, resorts allocate lounges, ballrooms & showrooms with satellite wagering stations and high quality TV monitors to accommodate their patrons.

Add in the mobile apps (account wagering), which can account for as much as 40 percent of a property’s handle, wagering on this event and throughout the year is more convenient than ever. 

This leads to the obvious question: will we see another record handle this year? I’m betting the answer is a definite YE$!

I want to thank Michael Lawton of the Nevada Gaming Control Board Tax & License Division for his assistance with my research on the handle figures.

Follow Vinny Magliulo, VP of Gaughan Gaming, @VSiNVinny.

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