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Nevada Sports Books Clobbered In November

Casinos Win Just $6.6 Million From Football Wagers


Nevada sports books won $19.2 million from sports betting during the month of November, according to figures released this week by the state. The amount was a 55-percent decrease compared to November 2015.

The sports books, of which there are 190 statewide, won just 3.8 percent of wagers. The performance was largely thanks to football.

Silver State casinos won a combined $6.6 million on football during the month, which was a decline of 77 percent year-over-year. They won just 2.1 percent of the $316 million bet on the sport. The football handle was down about 20 percent year-over-year.

Revenue from football wagers was $30 million in October.

Over the past three months, the sports books won $73.6 million from football, 12 percent less than was won during the same period (Sept. 1 to Nov. 30) in 2015.

The overall sports betting win over the past 12 months (Dec. 1, 2015 to Nov. 30, 2016) was $218.6 million, down 8.7 percent year-over-year. The win percent was 4.9 percent.

In 2015, the sports books won a record $231.8 million, winning 5.5 percent of the $4.2 billion in handle, which was also a record. There was an all-time for number of sports books as well.

Though this year’s revenue might not break last year’s record, the handle should be up. From the Dec. 1, 2015 to Nov. 30, 2016 period, the handle was about $4.5 billion.

Sports betting has never been more popular in America, and the casino industry is pushing for a change to federal law to allow the activity in more states.