The Nevada Gaming Control Board has issued its monthly revenue report for July 2019. The report indicates that the Silver State posted about $235.7 million in handle for the month, and the total revenue generated by the market was $10.5 million.
The figures place Nevada behind New Jersey which reported a total betting handle of $251.4 million.
This is the second time that the Garden State has beaten Nevada to clinch the top spot in the regulated sports wagering market. The first time was in May when NJ sportsbooks posted $318.9 million in handle compared to $317.3 million in Nevada.
With regards to revenue, the Garden State collected about $17.9 million, which is 7 million more than the revenue generated in Nevada.
New Jersey’s report was released by the Division of Gaming Enforcement two weeks ago.
A closer look at the numbers
A breakdown of the numbers shows that baseball was the most popular sport for bettors in Nevada.
Of the $235.7 million handle posted by operators in the state, about $175 million came from bets on the Major League Ball and other baseball events. Also, the market generated $8.6 million of the total revenue won by sportsbooks in the month.
Parlay bets, generated $64,000 of the total revenue, with other sports like golf, soccer, and tennis, accounting for $4.1 million. Football and basketball, on the other hand, posted losses of $182,000 and $2.1 million respectively.
Mobile makes all the difference in NJ
It took less than a year for the Garden State to outpace Nevada and register the highest handle in US sports betting.
New Jersey’s rise to the top can be attributed to the competitive online market in the state. There are about 14 online operating within the precinct, and bettors can register their accounts and place wagers remotely.
Since the beginning of the year, the Division of Gaming Enforcement has been reporting that more than 80% of the state’s handle comes from online customers.
In July, for example, mobile wagering accounted for $213 million of the total value of bets placed, compared to $38.3 million wagered at retail venues. These figures reveal that about 85% of the bettors placed their wagers over the internet.
While the Nevada Gaming Control Board does not give a breakdown of online and on-site wagering, it is estimated that mobile accounts for just 50% to 60% of the total wagers.
There are about ten online operators in Nevada, and they include big names like William Hill, playMGM, Caesars, and Golden Nugget. The other sports betting apps are Boyd Gaming’s B-Connected Sports, Treasure Island, SuperBook App by Westgate, CG Technology, STN Sports by Station Casinos, and NV Sports Books.
Nevada regulator announces book wagering report changes
Besides issuing the revenue reports for the month ended July, the Nevada Gaming Control Board has published a new directive concerning the submission of monthly revenue reports.
In the official statement, the regulator announced that they had developed a new online system that will be used to submit book wagering reports starting October.
The changes will take effect on Oct. 1, 2019, meaning that the licensees will use the new system to file their revenue reports for September. To prepare the operators for the changes, the Board is holding a meeting and training session its Las Vegas offices on Sept. 24, 2019.
According to the regulator, the summit is highly recommended for those involved with the process of preparing and submitting wagering reports. Representatives of management, compliance, and information technology departments have also been asked to attend.
Nevada Sports Betting Status
- Legal since 1949
- Regulator: Nevada Gaming Control Board
- Land-based: Yes
- Online: Yes
- Mobile: Yes
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