By Howard Stutz/The Nevada Independent
ports betting is legal and regulated in more than half of the U.S.
But despite the competition, Nevada’s sports betting industry has thrived.
If the first six months of 2021 are an indicator, Nevada sportsbooks are on pace to shatter the state’s annual records for wagers and revenues that were recorded in 2019. Through June, sportsbooks collected $3.3 billion in bets, an increase of 32 percent compared to 2019. Total sports revenue of $207 million is already 56.2 percent ahead of the 2019 total.
Only three states – New Jersey, Pennsylvania and Illinois – have recorded higher sports betting revenue figures than Nevada through the first half of 2021. Only New Jersey has seen higher sports wagers with $4.1 billion through June.
Eilers & Krejcik gaming analyst Chris Grove said the growth of legal sports betting nationally in the last three years, following a 2018 ruling by the U.S. Supreme Court opening the activity to states beyond Nevada, could be similar to the expansion of poker in the last decade.
“It’s possible that increased interest in sports betting will grow the national revenue pie sufficiently to allow Nevada to grow alongside states where sports betting has recently been legalized,” Grove said. “That, of course, relies on the state’s casinos continuing to build and expand one-of-a-kind sports betting experiences.”
In 2019, Nevada sportsbooks took in $5.319 billion in wagers, the 10th consecutive all-time state record. Revenues collected by the books from those wagers totaled a record $329.1 million.
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