Super Bowl Handle Drop Can’t Slow Nevada Sports Betting Growth In February
One could naturally infer a challenging February for Nevada sports betting revenue following a major drop in Super Bowl handle.
Not so, it turns out.
Nevada sports betting handle last month grew more than 10 percent year-over-year to $458 million. That includes Super Bowl betting of $146 million on the big game between the New England Patriots and Los Angeles Rams.
While Nevada bettors put up $12 million less on the Super Bowl than in 2018, handle for February easily outpaced last year's $411 million. It's another indication that despite the rapid ascent of New Jersey sports betting, Nevada maintains a strong position, especially for major events.
Nevada sports betting revenue jumps as well
The win by the Philadelphia Eagles in last year's Super Bowl took its toll on NV sports betting. Nevada sportsbooks held just less than $11 million on the Eagles' surprise victory.
This year, Nevada sportsbooks avoided the pitfalls that tripped NJ sports betting revenue. Revenue of more than $35 million for the month, including nearly $11 million on the Super Bowl, equated to a 7.8 percent hold.
New Jersey sportsbooks bled more than $4.5 million on about $35 million in betting on the first Super Bowl with legal sports betting outside Nevada.
Sports betting different on the coasts
The wide gap between Nevada and NJ sports betting revenue at least partially illustrates the potential for regional bias in sports betting. East Coast bettors clearly hammered the Patriots, in some areas putting better than 80 percent of the money on New England.
March Madness betting likely will provide another picture of how different areas of the country treat legal sports wagering. Anecdotal reports in Nevada indicate a strong beginning to the college basketball tournament this year.
Breaking down the sports
For a second consecutive month, basketball drove Nevada sports betting handle in February. Hoops handle crossed $250 million once again, accounting for more than half of wagers in the month. Books held nearly $20 million on the hardwood.
Football betting including the Super Bowl totaled more than $142 million in handle and $11 million in revenue. The 7.71 percent hold equals that of basketball for February.
Baseball betting that included both spring training games and futures added up to $1.2 million in handle and a loss of $267,000. Major League Baseball asked Nevada sportsbooks to remove spring training games this year. Silver State regulators turned down the ask.
The post Super Bowl Handle Drop Can't Slow Nevada Sports Betting Growth In February appeared first on Legal Sports Report.
Original source: https://www.legalsportsreport.com/30764/nevada-sports-betting-february-2019-revenue/
Relevant news
![BetUS Legal in Texas: The Truth About Gambling in the Lone Star State 2 BetUS Legal in Texas](https://offshoresportsbookfact.net/wp-content/uploads/2021/09/Dallas-Cowboys-vs-Tampa-Bay-Buccaneers-Pick-Preview-e1657616578639-360x200.jpg)
BetUS Legal in Texas: The Truth About Gambling in the Lone Star State
I remember when the topic of online gambling first came up in a conversation with…
![Is Offshore Sports Betting Legal in Texas? What You Need to Know 3 Texas Tech Red Raiders](https://offshoresportsbookfact.net/wp-content/uploads/2022/03/Texas-Tech-Red-Raiders-1-360x200.jpg)
Is Offshore Sports Betting Legal in Texas? What You Need to Know
I remember when I first stumbled upon the world of sports betting. It was during…
![The Tar Heel Turf: The Evolving Landscape of North Carolina Sports Betting (Updated for January 6, 2024) 4 NC sports betting update](https://offshoresportsbookfact.net/wp-content/uploads/2024/01/North-Carolina-360x200.jpg)
The Tar Heel Turf: The Evolving Landscape of North Carolina Sports Betting (Updated for January 6, 2024)
NC sports betting update January 2024: The Tar Heel State is in the midst of…
![The Expansion of Sports Betting Apps: States That Have Legalized it by 2024 5 States with Legal Sports Betting Apps](https://offshoresportsbookfact.net/wp-content/uploads/2023/12/States-with-Legal-Sports-Betting-Apps-360x200.jpg)
The Expansion of Sports Betting Apps: States That Have Legalized it by 2024
Sports betting has experienced a significant surge in popularity in recent years. With the convenience…
![Sports Betting Laws by State 6 Sports Betting Laws by State](https://offshoresportsbookfact.net/wp-content/uploads/2023/12/Sports-Betting-Laws-by-State-360x200.jpg)
Sports Betting Laws by State
Sports betting has grown immensely in popularity over the last decade, becoming a billion-dollar industry…
![Is Bovada Legal in California 2024? 7 Can You Gamble Online in California](https://offshoresportsbookfact.net/wp-content/uploads/2020/03/Can-You-Gamble-Online-in-California-360x200.jpg)
Is Bovada Legal in California 2024?
Is Bovada Legal in California? Yes, Bovada is legal in California because it is an…