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Nevada sets new betting handle record in October


The latest figures from the Nevada Gaming Commission show the state narrowed its year-on-year decline in gaming revenue to 19.0% in October, while the state’s sportsbooks took in a record $659.2m in stakes for the month.

Total revenue for October came to $822.7m, an 0.2% improvement on September’s $821.1m. 

This came predominantly from slots, which accounted for $565.8m of the total. This represented an 18.7% year-on-year fall, as well as a 6.7% month-over month drop. 

For table, counter and cards games, including sports betting, revenue was down 19.5% to $256.8m.

While revenue from Nevada sportsbooks fell 3.7% to $42.4m, amounts wagered grew significantly. 

Based on a hold percentage of 6.43%, stakes for the month totalled $659.2m, beating the previous record of $614.1m that was set in November last year. 

This total represented a 27.3% rise in stakes from the prior year, and a 14.6% rise from September 2020. Mobile accounted for $376.8m of stakes, and $13.6m of revenue.

Looking at performance by sport, football was by far the most popular, accounting for $32.6m of revenue, from stakes totalling $441.1m. Following in a distant second was baseball, with punters betting $110.7m, with $5.2m in revenue left after winnings. 

It followed New Jersey and Pennsylvania both shattering their own records for sportsbook stakes in October. Amounts wagered reached $803.1m in the Garden State, while bettors in Pennsylvania bet $525.8m during the month.

For the Las Vegas Strip, revenue remained significantly down year-on-year, falling 30.2% from 2019 levels to $375.8m. 

This comprised $208.1m from slots (down 31.8%), and a further $167.6m from table, counter and card games (down 28.2%). 

The decline from gaming venues in downtown Las Vegas was slightly less steep, though revenue was still down 22.7% to $52.8m.