Nevada Sportsbooks Hit New Record in November with $61.8m Win

New monthly win record

Nevada sportsbooks won $61.8m in November, hitting a new record for monthly earnings in the state’s more than 50 years of regulated sports betting. Last month’s totals beat the previous record of $56.4m, set back in September 2018.

Customers wagered more money – $659.9m – in October, but the sportsbooks’ winning percentage in November came in at 10.1%, much higher than the usual 5-6% range operators usually experience.

Nevada sportsbooks fueled by football

Sports betting totals in November were driven by football. Bettors wagered a total of $502m on the sport during the month, which is also a record for Nevada sportsbooks. Helping the numbers were an extra Sunday in November and the lack of competition from the NHL and NBA.

I’d say 90% of the largest NFL decisions went our way”

Sportsbooks won $56m from the bets placed on both NFL and college football. Jay Kornegay, vice president of race and sports for the SuperBook at Westgate Las Vegas credits pro football for the record-setting win. He told ESPN: “I’d say 90% of the largest NFL decisions went our way in November, including some that were among our biggest wins ever.”

At the SuperBook, two games in particular helped the operator see a big win last month. On November 8, the New Orleans Saints took on the Tampa Bay Buccaneers, with most players wagering on Tampa. The Saints ending up winning the game in a 38-3 blowout, which killed the Tampa side.

Kornegay also pointed out the Baltimore Ravens and New England Patriots game on November 15. The Patriots won 23-17, an upset which provided a big win for the operator.

Extended COVID-19 measures

The increase in sports betting win for Nevada sportsbooks comes at a time when the state has extended COVID-19 measures. The number of positive coronavirus cases and hospitalizations remains high, resulting in Governor Steve Sisolak extending the current mitigation efforts until January 15.

Casinos, along with sportsbooks, can remain open. They must, however, operate at 25% capacity. The hope is that casinos can remain open despite the pandemic, and employees will be able to keep their jobs.

In November, lower visitor numbers resulted in sports betting outperforming blackjack for the first time ever. The Nevada Gaming Control Board reported blackjack earned only $58.1m last month.

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