Though Nevada didn’t break its total sports betting handle mark in November, the month was still very impressive and continues a big run for the sportsbooks. In September the state set a record with $786.5 million in handle, smashing the mark of $660 million that had stood since October 2020.
In October, of course, that new record was swept away as Nevada pulled in $1 billion in sports betting handle for the first time, clearing $1.1 billion.
The football handle in November was $558.6 million. Basketball accounted for $376.1 million.
Nevada’s sports betting revenue also broke a record, with $71,971,000 in all, a 49% increase from October’s $48.3 million. Football betting alone took in just over $53 million as the books had a great month with a whopping hold of 9.5%.
The old revenue record was one year earlier -- $61.8 million in November 2020. Last month’s revenue was 16% higher than that.
Parlay cards, always a high-margin category for the books, had a hold of nearly 55% with $4.4 million in revenue on just $8 million in handle.
Nevada extended its streak to nine consecutive months of at least $1 billion in total statewide gaming win. November’s total was $1,321,625,000, the highest total since July, when gaming win hit $1.36 billion.
The last time the state failed to reach $1 billion in gaming win was February.
The win percentage (or hold) for Nevada casinos in November was 7.13%.
There are no real money online casino options in Nevada; however, the state does offer online poker, one of a small number of states to do so.
Connecticut is a small state but it has two big, sports-crazy neighbors: New York and Massachusetts.
Neither state has a mobile sports betting market. New York only has retail sports betting at four upstate casinos; Massachusetts doesn’t even have that.
And it’s no mere speculation that New Yorkers in particular are coming to Connecticut to place their bets with that market now open.
Chad Kornett, vice president of Global Government Relations for GeoComply, a geolocation security company, said as much in a recent news release.
“Easily accessed from the New York City area, GeoComply’s data shows 38% of Connecticut’s wagering activity has originated from the southwestern corner of the state along the I-95 corridor,” Kornett said.