The Nevada gambling market is one of the largest in the county. Many bookie pay per head software users look and analyze their numbers to get a better idea on the gambling industry in the country. While each gambling market differs in terms of customer preference and such, trends can still affect them in general. Let’s take a look at the Nevada sportsbooks’ activity for the month of October.
As always, Nevada’s monthly sports betting handle is one of the highest in the country, with October’s handle at $920.9 million. This gives us an increase from September’s $760.8 million. However, it is lower than October 2021’s $1.1 billion handle. While we are seeing a decrease, it should be worth noting that October 2021 was the first time that the state has seen betting activity reach that amount.
Nevada Sportsbooks Handle and Revenue Numbers
But even though we have a lower handle, sportsbooks are actually reporting a higher hold, giving us a $56.9 million revenue for both retail and online sportsbooks. This is 17.7% higher than October 2021’s revenue. It is also the second month in a row that sportsbooks saw a revenue higher than $50 million. This is encouraging for those who use a good online bookie software.
As for what Nevada residents were betting on, football remains to be the most popular league in sportsbooks. The handle for both professional football and collegiate football betting is at $607.4 million. Baseball took in $114.7 million, while basketball picked up in October with $79.22 million. All sports leagues do have a decrease from October of the previous year, but since the hold is higher for October, most are not worried. The hold percentage for October is 6.2% this year, while October 2021’s hold was at 4.9%.
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