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.
