Nevada Retains Sports Betting Revenue Record
January 31, 2020
According to the latest statistics published by the Nevada Gaming Control Board, Nevada remains the record-holder for the most sports betting revenue generated by any US state. The board recently confirmed that this remained the case for 2019, what with the state having banked a smashing $5.3 billion in sports betting revenue over the course of 12 calendar months. The board also confirmed that this was in part due to the local market having generated a whopping $614 in revenue for the month of December alone. Nevada is the only US state ever to have broken through the $600 million ceiling.
But what the latest reveal means for the gambling state far exceeds the actual numbers. What this once again confirms is that Nevada remains the leading American sports betting hub, even despite the fact that numerous states have legalised betting on professional as well as amateur sports since the fall of PASPA some 2 years ago. The assumption was one of tight competition being at the order of the day once legalisation was made possible but it’s becoming increasingly more obvious that Nevada will continue to enjoy; for the foreseeable future at least; the support of more bettors than any other regulated sports betting US state.
New Jersey Runner-Up
The runner-up title remains the secure property of the Garden State. New Jersey is well deserving of this top title when looking at the actual figures. But it must also be kept in mind that New Jersey remained the greatest advocate of country-wide legalised sports betting all throughout the years-long legalisation petition processes. The state did for the rest of the US what no other state before it had managed to do up to that particular point in time. It relentlessly chased its goal of the freedom to choose for everyone. Each US state is now at liberty to decide for itself whether or not to embrace the regulated world of betting on sports. Had it not been for the Garden State’s tenacious determination and sheer will power, the archaic PASPA restrictions will in all likelihood have prevailed to this day.
Nevada To Remain Pack-Leader
As for which sport beat just about all of the others in terms of popularity on the betting front in Nevada all throughout 2018, football has remained the ultimate chart-topper, followed hot on its heels by basketball. During the month of December, football accounted for more than 60% of the total revenue generated by sports betting in the state. Basketball bounced in at a little over 30% of revenue, whilst other sports and parlays were responsible for the balance of the percentile.
As far as the way forward is concerned, the race for sports betting boasting rights will be battled out between Nevada, New Jersey and Pennsylvania. Last-mentioned signed up last of all three but already is home to booming local betting market. Pennsylvania’s role is made all the more prominent by its massive population of people living in the state. In addition to the advantage on the numbers, the state is only now starting to mature into a fully-fledged market. The recent talks around the legalisation of mobile sports betting further secured the notion that of all of the mentioned states, Pennsylvania is the one to look out for most of all.
Nevada, New Jersey and Pennsylvania are all three expected to remain near the top of the all-time performing revenue list. This despite the fact that 20 more states are currently finalising their own regulations and will in all likelihood join the what is proving to be very profitable party before the current year is out.