Nevada Breaks Records with Sports Betting in 2018

According to the newest statistics, the state of Nevada managed to set a new record in 2018…

…by achieving the best handle and revenue amount ever registered in this western U.S. state.

The Nevada Gaming Control Board (NGCB) revealed the statistics saying that the amount wagered on sports events in 2018 came up to $5.01 billion dollars, which was up 2.9%. The win grew by 21.2% to a staggering $301.0 million.

A flourish of the Revenue

Well, 2018 was the most amazing year for this famous casino state. The sportsbook revenue grew 27.7% and in December came up to $44.1 million. There was a 37.0% rise in football wins, and a slight downfall in baseball wins to 11.0%.

Looking at 2018, Nevada’s sportsbook revenue hit a new record with $301 million, which was a 21% compared to the 2017 revenue.

When it comes to the state’s overall casino gaming revenue, it came up to almost a billion dollars ($999.7 million) …

…which in comparison to December of 2017 rose 4.1%.

In total, the 2018 tally was almost a whopping $12 billion ($11.9 billion to be more precise), which is also a 3% rise comparing to the previous year’s statistics.

The slots vertical was up 3.8% and came up to the massive amount of $7.73 billion in 2018, while other forms of casino gaming grew 1.6% and brought around $4.24 billion.

October was definitely the most lucrative month for casinos in Nevada in over five years. Casino operators in this state gained a total GGR of over a $1 billion, which didn’t happen since 2008.

AGA’s Survey

Another interesting survey performed by the American Gaming Association (AGA) showed that eight in ten Americans, which is around 79% of all people that were interviewed…

…support the sports betting legalization in the states they live in.

“The results of this research are overwhelmingly clear: consumers want legal sports betting, they believe it should be regulated by state and tribal governments and they don’t think the leagues should get a cut,” said Sara Slane, senior vice president of the AGA.

“This weekend, 23 million Americans will wager a staggering $6bn on the Super Bowl. To put that in perspective, Americans will bet around the same amount on this one event as they bet legally in all of 2018…

…however, Americans will continue to bet illegally without access to safe, regulated alternatives. With sports betting legislation flooding state capitals across the country, legislators can pursue these opportunities knowing they have the support of their constituents,“ Slane added.

However, Senior Vice President of the American Gaming Association didn’t mention how many people were interviewed during the execution of this poll.

“AGA will continue to advocate for the inclusion of sensible gaming policies wherever it is being considered, including consumer protections and reasonable tax rates that enable the legal, regulated market to compete with illegal bookies and offshore operators,” she concluded.

Source:

“Nevada breaks sports betting record in 2018”, igamingbusiness.com, February 1, 2019.

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