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Nevada Casinos See Record Sports Betting Handle But Overall Revenue Decline In November

Sportsbooks Accept Whopping $614.1 Million In Wagers During The Month

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The Las Vegas StripNevada’s casinos had a sluggish November overall, dropping 3.1 percent year-over-year with $937.5 million in total revenue.

The biggest culprit in the state was the properties on the Las Vegas Strip, which saw revenue drop by 3.4 percent after a particularly poor performance from Baccarat games.

Other games, such as blackjack and slots, also saw their year-over-year numbers decline, while roulette and craps saw a small increase.

The big winner was Nevada sportsbooks, which took in a record $614.1 million in bets during the month, which beat the previous record of $596.7 million back in March.

It was enough to top New Jersey, who also had a record handle of their own in November, accepting $562.7 million in wagers. However, New Jersey was able to hold on to more of their bets, keeping $32.9 million in gross revenue for a 5.85 percentage. Nevada sportsbooks had a hold of $31 million, for just 5.05 percent. It would have been higher had it not been for a flurry of baseball futures bets that were cashed out.

While poker revenue continues to be a drop in the bucket for the state’s overall numbers, the game did see an increase of 18 percent year-over-year.

Despite the sluggish month, Nevada is on pace to have a slightly better year in the books as 2019 comes to a close. In 2018, casinos reported revenue of $11.9 billion, the third largest total in the state’s history.