Nevada’s Huge Football September Leads to Record Revenue of $80.9M

Sportsbooks combined to set a new revenue record of $80.9 million in September, beating out the previous high of $72 million in November 2021.

Brad Senkiw - News Editorat Covers.com
Brad Senkiw ? News Editor
Oct 29, 2024 ? 13:33 ET ? 4 min read
Las Vegas Raiders defensive tackle Christian Wilkins (94) celebrates after getting a sack against the Cleveland Browns during the third quarter at Allegiant Stadium. Mandatory Credit: Stephen R. Sylvanie-Imagn Images
Photo By - Photo By - Imagn Images.

The first full month of football was one to remember for Nevada’s sports betting operators. 

The Nevada Gaming Board reported that the online and retail sportsbooks combined to set a new revenue record of $80.9 million in September, beating out the previous high of $72 million in November 2021.

The all-time revenue mark also represented a 29.8% year-over-year increase as the operator’s demolished bettors with a 10.57% hold, up from 7.86% in September 2023.

The September handle of $764.6 million was down 5.7% from the previous year’s $811.3 million. 

Online sports betting accounted for 63.4% of all wagering, and the handle reached $484.9 million, down 10% year over year. Retail sportsbooks hauled in an impressive $44.9 million in revenue. 

The Silver State filled its coffers with $5.5 million from sports betting. 

Football hold surpasses 11%

Football is a driving force in sports betting action, but records happen when the sportsbooks beat the bettors like this. 

The NFL and college football combined to produce $55.8 million on a $486-million handle during September, thanks to an 11.5% hold. 

During the sport’s first full month in 2023, operators won $38.7 million on a 7.6% hold.

Football’s return made a huge difference compared to August. The September revenue was up 222.6% month-over-month as the handle increased 67.8%.

Baseball, other sports excel

It wasn’t just gridiron action pushing sportsbook revenue in September. 

Despite the amount wagered and profits being down double digits year-over-year in baseball, sports betting operators still did well in the sport. The final month of MLB’s regular season produced a solid 8.4% hold on a $159 million handle, leading to $13.4 million in revenue. 

“Other” sports, which include soccer, golf, tennis, MMA, boxing, and auto racing, set a new Nevada sports betting record with $10.4 million in revenue, up 36.8% year-over-year. 

Parlays added $2.3 million in profits during the sportsbooks’ strong month.

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