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Sports betting reaches new heights in Nevada with record-breaking November
Nevada sportsbooks once again shattered the state’s all-time monthly handle in November, taking in a record $557 million in bets last month. That all-time high gave bookmakers a win of $42.778 million, with a hold (win percentage) of 7.7 percent, a record for November and the sixth highest monthly win in Nevada history.
The growing popularity in sports betting eclipses November 2014’s handle of $535.5 million in bets, which had broken the previous mark of $490.3 set in November 2013. Before that, November 2012 was the high water mark for the state at $447.6 million in total sports wagers.
A good chunk of that new record was wagered on football – 71 percent to be exact – with $395 million bet on NFL and college football in November, providing Silver State sportsbooks with a win of more than $29 million for the month, bringing the season total win (September-November) to $83.9 million.
That total football handle ranks as the second highest monthly total in state history, behind the $400.7 million bet on pigskin last November, and could have been bigger if not for the calendar, according to the Nevada State Gaming Control Board.
“There was one less Saturday but remember we were going against last November which was the all-time record,” Michael Lawton, senior research analyst for the Gaming Control Board, tells Covers, pointing out that the month started on a Sunday, omitting a full Saturday of college football betting action from November’s count.
Nevada books also celebrated an $8.172 million win on basketball – NBA and college – in November, with $112,252,747 million bet on hoops last month. In October, the start of the NBA season – which tipped off on October 27 – brought in $16 million in wagers for a win of $1.6 million.
The category of other sports, which includes hockey, soccer, golf, tennis, boxing, MMA and racing, recorded a $640,000 win for Nevada bookmakers in November. Parlay cards turned out $5.113 million in profits for bookmakers last month.
Overall, Nevada casinos enjoyed a total win of $944,265,845 in November 2015, which is a 7.76 percent increase from the $876,244,082 total gaming win of November 2014 and a significant hike from October 2015’s gaming win of $887,577,506.
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Originally Posted by existential
