Nevada sportsbooks break record handle in October

Nevada's sportsbooks generated a handle of $659.6m in October.
Nevada's sportsbooks generated a handle of $659.6m in October.

Nevada saw its highest sports betting handle yet in October but still saw a year-on-year decline in revenue.

US.- Nevada’s sportsbooks generated a total handle of $659.6m in October, beating the previous record set in the state.

The previous record handle was set in October 2019, when bettors placed wagers amounting to $614.5m. This October’s handle passed that by 7.3 per cent.

October’s performance was also an increase from September’s $575 handle.

But despite impressive stakes, revenues actually fell 11.5 per cent year-on-year to $42.4m.

Football brought in the most revenue at $32.6m, followed by baseball at $5.18m. But sportsbooks lost $1.08m on hockey and $189,000 on basketball due to future bets and refunded wagers from the last season.

Mobile betting was also attributed as one of the factors pushing up the handle, although analysts are uncertain if the increased use of mobile platforms will continue once the Covid-19 pandemic ends.

New Jersey still holds the nationwide record for the highest sports betting handle with the $748m it saw wagered in September.