If one month of $60 million in legal sports betting revenue wasn’t enough, the Silver State doubled down coming out of October.
The Nevada Gaming Board reported a monthly haul of $68.1 million of revenue, up 9.3% from September’s $62.3 million, which was previously the third-best ever.
It marked the first time since PASPA was overturned and states began reporting monthly figures that Nevada sports betting has seen back-to-back revenues of over $60 million.
The Silver State recorded a handle of $815.6 million in October, down 11.4% from the $920.8 million in October 2022. That amount wagered ranked fourth nationally behind New York, New Jersey, and Pennsylvania in October.
Revenue, however, was up 19.8% year-over-year, thanks to an 8.3% hold that was up from 7.7% in the previous month.
The Silver State filled its coffers with $4.6 million in taxes paid by retail and mobile operators. That put Nevada over $25 million in tax payouts received.
Online sports betting accounted for $35.1 million of revenue but the amount wagered was down 12.4% year-over-year. Mobile wagering made up 66%, or $537.2 million of the total handle.
Brick-and-mortar sportsbooks posted an impressive 11.9% hold on its share of the handle.
Football thrives
It’s no surprise that a vast majority of the October revenue came from football. The NFL and college football represented $48.3 million of total profits, up from the $38.7 million made in September. Underdogs and unders have been getting the better of bettors much of the NFL season.
MLB’s playoff month produced $9.5 million, which was $6.5 million less than the previous month, of baseball revenue.
Basketball accounted for $3.2 million of the overall revenue.
Hockey was worth $2.2 million while “other” sports brought in $3.5 million. That category, which includes auto racing, should see a significant bump when the November figures are released following last week's Las Vegas Grand Prix, which was the most bet F1 event for BetMGM.
