Nevada Sports Betting Suffers Biggest Super Bowl Handle Drop In A Decade

For just the second time in 10 years, Nevada sports betting handle on the Super Bowl fell from the previous year.

Nevada sportsbooks took nearly $146 million in Super Bowl wagers this year — more than four times the $35 million bet in New Jersey. Last year, Nevada operators saw more than $158 million in handle on the big game.

That represents an 8 percent decline for Super Bowl, in the first year of widespread legal sports betting in the United States. The only other year this decade with a decline is 2015 when the Patriots defeated Seattle; that was $3.5 million.

The books posted a win of nearly $10.8 million, or 7.4 percent. That stands in stark contrast to New Jersey's first Super Bowl, which ended with a $4.5 million (13.1 percent) loss to the public.

Super Bowl betting through the years

A closer look at how Nevada sportsbooks fared in the last decade:

Year	Handle	Win	Win Percentage	Game Result
2019	$145,939,025	$10,780,319	7.4	NE 13, LAR 3
2018	$158,586,934	$1,170,432	0.7	PHI 41, NE 33
2017	$138,480,136	$10,937,826	7.9	NE 34, ATL 28
2016	$132,545,587	$13,314,539	10.1	DEN 24, CAR 10
2015	$115,986,086	$3,261,066	2.8	NE 28, SEA 24
2014	$119,400,822	$19,673,960	16.5	SEA 43, DEN 8
2013	$98,936,798	$7,206,460	7.3	BAL 34, SF 31
2012	$93,899,840	$5,064,470	5.4	NYG 21, NE 17
2011	$87,491,098	$724,176	0.8	GB 31, PIT 25
2010	$82,726,367	$6,857,101	8.3	NO 31, IND 17

What does it mean for Nevada sports betting?

While Nevada sports betting posted a strong December revenue report, a drop on the year's biggest sports betting event in the face of new competition brings questions. Panic should be muted, though, as Nevada broke records in handle and revenue in 2018.

Does the Super Bowl in Las Vegas lose any sizzle with the ability to bet in more places?

Las Vegas hotels expected nearly 300,000 visitors for Super Bowl Sunday this year, well in line with the past. The appeal of Las Vegas goes far beyond sportsbooks for many visitors, and that is what Nevada operators bank on.

How is mobile sports betting affecting Nevada?

The Silver State rolled out the first mobile sports wagering platforms in the country in the past decade. Many of them look antiquated compared to the shiny new NJ sports betting apps released last year. In terms of appearance and user experience, Nevada sports betting apps might need a refresh.

Will more states starting sports betting cut more into Nevada's handle?

Only time will tell as we stand less than a full year into the world after PASPA. Nearly half of US states have a sports betting bill on file in their legislatures in 2019.

The post Nevada Sports Betting Suffers Biggest Super Bowl Handle Drop In A Decade appeared first on Legal Sports Report.

Original source: https://www.legalsportsreport.com/28777/nevada-sports-betting-super-bowl-2019/

Relevant news