Nevada sports betting up

News on 31 Oct 2018

Figures released Tuesday by the Nevada Gaming Control Board show that sports betting reached record levels in September, with state sportsbooks taking in $571 million, $389 million from football fans.

Nevada casinos won $56.3 million from the total wagered in sports, setting the highest sports pool win ever. Of that, $44.3 million came from bets on football.

Overall, casinos across the state raked in $991.2 million last month – up 1.3 percent over September 2017.

Michael Lawton, senior research analyst for the board, told local reporters: “If we would have held a little better in baccarat, we would have hit a $1 billion. So, it was a good month. Without baccarat, the state would have actually increased 4.3 percent.”

YTD numbers show that Nevada overall casino revenue is up 2 percent in 2018.

In September, Las Vegas Strip casinos saw revenues decline 3.7 percent to about $546 million as visitation numbers dropped. Lake Tahoe’s south shore in Stateline posted the sharpest revenue decrease – down 15.8 percent at $17.7 million.

The state harvested $54.5 million in gambling fees and taxes – up 7.6 percent y-o-y..

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