Nevada Losing The Handle

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  • Illusion
    Restricted User
    • 08-09-05
    • 25166

    #1
    Nevada Losing The Handle
    Offshore sports books combined for an estimated revenue of $3.447 billion and a global handle of $76.6 billion in 2004, according to Christiansen Capital Advisors, a U.S.-based gambling industry consulting and research firm. The total handle for Nevada sports books declined from 2000 to 2003, but rebounded to $2.085 billion last year, with revenues of $112.5 million.

    Here is the state's handle for the past 10 years in dollars:

    1995: 2,430,370,794

    1996: 2,481,485,821

    1997: 2,430,117,939

    1998: 2,269,492,065

    1999: 2,471,203,564

    2000: 2,326,149,655

    2001: 2,041,784,256

    2002: 1,935,793,913

    2003: 1,865,265,296

    2004: 2,085,427,767

    SOURCE: NEVADA GAMING CONTROL BOARD
  • jjgold
    SBR Aristocracy
    • 07-20-05
    • 388189

    #2
    Really not a big drop from 95
    Comment
    • Senator7
      SBR MVP
      • 08-20-05
      • 1559

      #3
      Nevada is for tourists and the public, offshore is for the sharps and the pros.

      Senator 7
      Comment
      • THESCOUT
        SBR Hustler
        • 09-07-05
        • 97

        #4
        big money plays both places
        Comment
        • freebie
          SBR MVP
          • 08-10-05
          • 1174

          #5
          If only Uncle Sam would legalized sports betting across USA. They would collect tons of tax revenue.
          Comment
          • Senator7
            SBR MVP
            • 08-20-05
            • 1559

            #6
            Originally posted by freebie
            If only Uncle Sam would legalized sports betting across USA. They would collect tons of tax revenue.
            A 5% tax could pay off the deficit or the national debt really quick. The government doesn't know what they're missing out on. They could legalize and make the books pay the tax. They would fork it over willingly if it meant that sportsbetting was legal in the states. With the poker boom that we've seen the past couple years, I expect there to be a movement to legalize and regulate most forms of gambling, sportsbetting being one of them.

            Senator 7
            Comment
            • Relentless
              SBR High Roller
              • 08-23-05
              • 176

              #7
              Really suprised it hasn't dropped more. Must be partially offset by the increase in March Madness/SB wagering.
              Comment
              • jjgold
                SBR Aristocracy
                • 07-20-05
                • 388189

                #8
                The drop offs are not really much

                It just goes to show offshore gambling did not put a huge dent in biz
                Comment
                • ganchrow
                  SBR Hall of Famer
                  • 08-28-05
                  • 5011

                  #9
                  Originally posted by jjgold
                  The drop offs are not really much

                  It just goes to show offshore gambling did not put a huge dent in biz
                  I suspect the drop-off would appear far more drastic when adjusted for the overall increase in Vegas's gambling dollar volume ex sports over the same time period.
                  Comment
                  • jjgold
                    SBR Aristocracy
                    • 07-20-05
                    • 388189

                    #10
                    Good point

                    I wonder if an avergae place like Skybook does more than mirage?
                    Comment
                    • pags11
                      SBR Posting Legend
                      • 08-18-05
                      • 12264

                      #11
                      I'm a perfect example of why those numbers are dropping...why do I want to treck all the way down to the book, go into a smoke-filled room, deal with some guy with one tooth giving me a frickin' attitude?...I can just sit up in my office at my house and make plays...it's sweet...
                      Comment
                      • SBR_John
                        SBR Posting Legend
                        • 07-12-05
                        • 16471

                        #12
                        Thats a great find Illusion. Sports betting has probably tripled since 95 yet vegas is getting less than they got 10 years ago.

                        Much much better value offshore. Better safety in vegas but well, thats where SBR swings in with the safe offshores. And if you can play safely offshore then thats the ticket. Anyone ever get a bonus from a Vegas sportsbook? uh...no.
                        Comment
                        • pags11
                          SBR Posting Legend
                          • 08-18-05
                          • 12264

                          #13
                          or a drink token...or some respect...nope...it's a joke here in Reno...
                          Comment
                          • imgv94
                            SBR Posting Legend
                            • 11-16-05
                            • 17192

                            #14
                            Odds in Vegas suck as well.. They are always a notch worse than
                            offshore
                            sportsbooks..
                            Comment
                            • onlooker
                              BARRELED IN @ SBR!
                              • 08-10-05
                              • 36572

                              #15
                              Originally posted by imgv94
                              Odds in Vegas suck as well.. They are always a notch worse than
                              offshore
                              sportsbooks..
                              Odds/spreads arent very far from each other, but the low juice offshore is better the the normal 110 in Vegas. Dont see much reduced juice in Vegas. Plus the 20cent pucks in Vegas suck. Got to love the 10cent lines at Pinnacle and other spots. Also cant buy and sell points in Vegas, well not that Im aware of anyway.

                              So there is a big edge in offshore. I just dont play much offshore because I like to have my money instantly. But Im going to start dipping in offshore more in the future.
                              Comment
                              • imgv94
                                SBR Posting Legend
                                • 11-16-05
                                • 17192

                                #16
                                When I was in vegas there was a big difference in future odds for baseball

                                Astros would be 8-1 offshore and 5-1 in vegas..
                                Comment
                                • onlooker
                                  BARRELED IN @ SBR!
                                  • 08-10-05
                                  • 36572

                                  #17
                                  Originally posted by imgv94
                                  When I was in vegas there was a big difference in future odds for baseball

                                  Astros would be 8-1 offshore and 5-1 in vegas..
                                  I dont look to much into futures, so I will have to take your word on that one.
                                  Comment
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