Nevada’s September Sports Betting Handle Breaks $570m

September has been yet another strong month for the State of Nevada with the results just surfacing. The state’s bookmakers’ have been able to register as much as $571 million in placed bets during the 31 days of the month.

Nevada Scores Bigger with Sports Betting

The State of Nevada in the United States has registered yet another strong month with bookmakers reporting unprecedentedly high sums of money placed on the outcome of sports.

The State’s betting agencies boasted solid $571 million in proceedings, which will in turn have a positive and refreshing effect on the industry, which may yet announce even better performance indicators in October, given the NFL’s season.

The handle is also a token of something different, industry experts say. The processed amounts give Nevada a place at the helm of the expanding betting industry in the United States. The last record was a year ago in October, when the bookmakers’ cumulative handle reached $565 million a year earlier.

Winnings were pretty solid for the betting agencies, with the numbers reaching $56.3 million. A big part of the growth was occasioned by the National Football League which has been spurring growth well across the country. While sports betting has been soaring, gambling handle slumped.

Of the total amount wagered in Nevada, $389 million went down on NFL bets. This means that the NFL alone handles 68% of the interest. Baseball was the second most-watched game, with $131 million, which was another significant uptick in the overall financial results.

Nevada has been slowly propping up its overall revenue bringing the total amount to 1.26% up from 2017, which is another great achievement of the state.

Meanwhile, Nevada doesn’t seem to be the only behemoth on the nation scene capable of commanding huge interest when it comes to extra sports betting revenue. New Jersey is cited as one of the largest markets and even though the state is only now breaking into its stride, what’s to follow, according to experts, will be a boom that will eclipse the results in Nevada.

The numbers are similar but they are applied to different metrics. Eilers & Krejcik Gaming, a respected marketing intelligence analyst agency, has said that while New Jersey will grow to a total of $422 million by 2021, Nevada will hit $410 million over the same period.

This is particularly impressive given the fact that New Jersey was late with setting properly its own operations. More states are also trying to cash in on the trend, but none seem to be too ready.

The Numbers are Tipped to Rise

A little recognized segment is esports betting, which may be becoming a big thing in the United States. Unikrn, a company specializing in offering wagers on esports competitions has obtained its own license from Isle of Man and the company is now prepared to move in throughout the entire country, trying to expand owing to PASPA.

If the plans come to a successful end, Unikrn will be tapping into a multi-billion market and according to Goldman Sachs, brand rights will be a substantial part of the offer.

Leave a Reply

Your email address will not be published. Required fields are marked *