The state of Nevada had a strong month of sports betting in August, and that was expected based on other numbers reported throughout the country. August usually begins a stretch of five strong months for the US sports betting industry, and it could lead to some record-breaking numbers in Nevada.
The total sports betting handle in August was $427.4 million, which was an increase of 4.3% from the $409.7 million in July. There was a slight drop of 10% from the total brought in during August 2020, but it was around that time when sports all started back up last year.
The total sports betting revenue for Nevada in August was $14.3 million, and this was a pretty disappointing number for the state. July brought in over $33 million in sports betting revenue, which means that the total fell by nearly 57 percent.
Another area that did see an impressive increase in August was the amount of betting that was done online. Mobile sports betting jumped 22.5 percent, up to $296.5 million from the month of July.
Nevada is one state that continues to see a lot of retail sports betting action as visitors flood the area to place their wagers.
Still Number Two
Despite the solid jump in sports betting handle for the month of August, Nevada is still clearly in the second spot in the United States. New Jersey had a total sports betting handle of $664.7 million during the month of August to lead the way.
Nevada has been in a battle with both Pennsylvania and Illinois for the second spot in the rankings, and Illinois has had several months where it has taken the lead. The Land of Lincoln is one of the last to report on its totals, and it might not come for another week.
Baseball Carries Market
Baseball was the most popular sport to bet on during the month of August as it accounted for over $277 million in total wagers. Football brought in close to $43 million in total handle in August, and it should be the most popular sport from here on out.
August saw a big increase in the “other” betting category as there was nearly $92 million in bets made on sports outside of basketball, basketball, football, or hockey.
Las Vegas Raiders Odds
The Las Vegas Raiders are off to a perfect 3-0 start to the season, but they still aren’t getting a ton of respect from bookmakers. Las Vegas is still just +550 to win the AFC West Division, with the Kansas City Chiefs still being the betting favorites at -115.
The Raiders will face the Los Angeles Chargers on Monday Night Football in Week 4 in a game that will draw plenty of attention throughout the state. Las Vegas is currently a three-point underdog on the road in Los Angeles.
As long as the Raiders continue to be in the playoff race this season, then the entire sports betting industry in the state will get a major boost.