Published: December 29, 2020

Nevada posts state's most profitable sports betting month

In data released by the Nevada Gaming Control Board on Tuesday, Nevada reported $609.6 million was wagered in sports betting for the month of November. It was Nevada's most profitable sports betting month ever.

While there was $659.9 million bet in Nevada during the month of October, the winning percentage of the state's sportsbooks was 10.1 percent in November. That was more than the usual 5-6 percent that the sportsbooks have. The state won $61.8 million, which was an all-time record for Nevada in a single month.

During the month of November, meanwhile, bettors wagered $502 million on football, which was also an all-time record. Part of the reason for the elevated numbers is due to the fact that there was an extra Sunday last month. In addition, the NFL didn't have a ton of competition from leagues like the NBA and NHL, who had yet to begin their seasons.

Nevada comes in second in the United States in terms of total money handled behind New Jersey. New Jersey has edged out Nevada in every month in 2020 thus far. In November, New Jersey handled $931.6 million in sports bets.

It's also hurt Nevada that bettors haven't been able to sign up in-person due to the COVID-19 pandemic. Less than 60 percent of Nevada's wagers have come from online.

https://www.cbssports.com/general/news/nevada-posts-states-most-profitable-sports-betting-month/