Sports Betting Revenue in Nevada increases 244% in September

There has been an incredible increase in revenue with regards to sports betting In Nevada, where the figure has risen by 244%. The return of NFL and college football in September 2023 led to an increase in betting revenue of $811.3 million. The licensed sports betting operators were ecstatic.

The Nevada Gaming Control Board reports that in September, total wagers at Nevada’s retail and mobile sportsbooks amounted to $811.3 million, up 6.6% from September 2022 and nearly double the handle from August.

The revenue pulled in through the football handle amounted to $510 million in September, which dwarfed the total collection of $431.3 million in August from all of the combined sports.  

Online sports wagering contributed $538.8 million. This is equivalent to a 66.4% share of the complete handle, an increase of 9.6% every year. 

The winning average increased by 3.5 points as compared to the previous month. Nevada came in for $4.2 million in terms of taxation received from operators following a month of collecting the amount of $1.2 million. 

Nevada online sportsbooks experienced a favorable scenario in football as well as baseball. The initial month of NFL and college-level football brought in $38.7 million in revenue on a 7.6% hold.

In the case of the MLB normal season, which saw a closure in September, baseball was second in line in handle by sport, which stood at $188.5 million. The winning rate was 8.6%, which helped collect more than $16 million in revenue.

Basketball contributed $13 million out of the total handle, whereas hockey failed to attain the $700,000 mark. It is expected that the two sports will do better in the following month.

Where every other sport, such as soccer, as well as tennis, auto racing, golf, boxing, and MMA, is concerned, they accounted for $96.7 million in terms of betting.