Record wagering for Nevada’s sports betting in November

Sports bets made in Nevada in November 2019 a total of US$614.1 million, +5.5 percent in comparison to November 2018.

Nevada sportsbooks won a net US$31 million (+14.3 percent vs. November 2018), US$22.4 million from football, both college and pro. Meanwhile, global gaming revenue for the state was down 3.1 percent. Sports bets made in Nevada in November 2019 a total of US$614.1 million (+5.5 percent). It was an all-time record for any state, surpassing Nevada’s March total of US$596.7 million. In that sense, Nevada sportsbooks continued their months of profit for the 75th straight month, not suffering a losing month since July 2013.

When considering top 3 states for sports betting in November, numbers say they took in US$1.49 billion: Nevada was first with US$614.1 million, followed by New Jersey, US$562.7 million; and Pennsylvania, US$316.5 million.

Leaving aside sports, the Nevada Gaming Control Board said that statewide gaming revenue fell for the second straight month. Previously, Nevada casinos recorded five straight monthly declines to begin 2019, which were followed by four straight monthly increases. Casinos collected US$937.4 million from gamblers in November, a decline of almost 3.1 percent compared to November 2018. Most of the state’s major reporting markets had a down month.

The Las Vegas Strip, which accounts for more than half of the state’s overall total, saw revenues fall 3.1 percent to US$517.9 million. Downtown Las Vegas was off 6 percent to US$52.1 million, Reno was down 1.3 percent to US$50.3 million, and South Lake Tahoe declined 19 percent to US$13.8 million. Only two reporting areas in Southern Nevada (Mesquite and the balance of Clark County) had monthly gaming revenue increases in November. Sparks was the only market in Northern Nevada’ Washoe County with an increase.

Regarding sportsbooks, for the first 11 months of 2019, Nevada has collected US$4.7 billion in wagers, up 6.7 percent compared to the first 11 months of 2018. Another numbers from the period January-November 2019: total sports betting revenue was US$292.8 million, +14.2 percent; overall Nevada gaming revenues were up 0.5 percent compared to the same period a year ago.

Baccarat results weren’t positive in November. Revenues, primarily on the Las Vegas Strip, were down 22.7 percent to US$77.5 million. Wagering was off 30.8 percent to US$557 million. Baccarat volumes have only increased twice this calendar year and are currently down 14.9 percent through November. Overall, table game revenue declined 3.5 percent during the month, while slot machine revenues fell 2.9 percent.

However, other good news for the state was the wagering volume on slot machines. During November, betting was up 1.3 percent and the volume ascended 2.2 percent for the calendar year.

Besides, the Las Vegas Convention and Visitors Authority released the November tourism numbers for Southern Nevada, which showed visitor volume up 0.9 percent to nearly 3.51 million tourists. Convention attendance was down 1.6 percent, but citywide occupancy (88.2 percent), average daily room rate (US$134.95, +5.2 percent), and revenue per available room (RevPar, +5.4 percent to US$119.03) all grew during November.