Nevada is starting to see the sports betting industry throughout the state bounce back to pre COVID-19 levels. For the second straight month, the sports betting handle in the state more than doubled.
It was also the first time in the last three months that Nevada has been able to top the state of Pennsylvania in terms of sports betting handle. This means that Nevada brought in the second most bets during August, but the state is clearly out of the top spot.
The total sports betting handle in Nevada for August was $474,948,415 million, which was an increase of more than 190% from July. Surprisingly, the year-over-year total was also up more than 65%, which shows that the industry is back on track.
September should bring in another huge month for Nevada sportsbooks as the 2020 NFL regular season is now underway. The NFL is the most popular sport to bet on in the United States.
One thing that has slowed down growth in the Nevada market is the in-person registration requirement that is in place. New bettors are forced to visit a casino or retail sportsbook before they can make any bets online.
New Jersey Now the Clear Leader
New Jersey has quickly emerged as the top sports betting market in the United States, and the gap has continued to grow. New Jersey posted a record-setting sports betting handle of $667,979,150 for August, shattering the previous record.
Nevada saw $614.1 million in sports bets during November 2019, but New Jersey flew past the mark last month. The gap has now risen to more than $139 million between New Jersey and Nevada, and it’s getting larger in a hurry.
Mobile Handle Leading the Way
Once again, mobile sports betting led the way in Nevada for August, with that method of betting accounting for more than 64 percent of the total handle. Mobile sports handle also increased by more than 170% from July, despite more retail sportsbooks being back open throughout the state.
The total gaming win in Nevada was actually down by 2% from July even though the state brought in more than $743 million during the month.
Basketball A Huge Hit
The NBA Playoffs began in August, and basketball was the most popular sport to bet on last month. Basketball brought in more than $193.8 million in bets during August, which was an increase of more than 1,000%.
Baseball was next on the list with more than $175 million worth of bets, and that was an increase of 168% from July. Major League Baseball began at the end of July, and it was the first of the four major sports to return to action.
The National Hockey League also enticed bettors in August, especially with the Vegas Golden Knights making a run. Hockey betting handle increased by more than 11,000% in August, bringing in more than $52.4 million in wagers.