• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Nevada Sportsbooks Win $25M on Shrunken $418M January Handle

Brett Smiley by Brett Smiley
February 28, 2018
in Industry
Nevada Sportsbooks Win $25M on $418M January Handle, But Football Handle Down From '17

The Las Vegas Strip

Share on FacebookShare on Twitter

After sports bettors put down a record-breaking $158.6 million on Super Bowl LII between the 4.5-point underdog Philadelphia Eagles and New England Patriots, we’re learning that the preceding 10 playoffs games did not generate quite as much action for the books as in January of the NFL season before.

But first: It was a pretty decent month for the books: According to monthly revenue report from the Nevada Gaming Control Board, (NGCB) Nevada’s 191 licensed sportsbook locations saw $418.2 million in total wagers in January 2018 and won 6% for a profit of $25 million.

In January 2017, the books saw a $454.4 million handle but fared worse, winning just $7.95 million on a 1.75% hold. But overall that’s a dip of about $36 million on the handle, all of which can be attributed to football wagering.

Nevada Sportsbooks Win $25M on $418M January Handle, But Football Handle Down From ’17

Nevada Sportsbooks Win $25M on $418M January Handle, But Football Handle Down From '17

Here’s the snapshot and we put in basketball (which includes NBA and NCAA hoops) and football (NFL and some college bowl games including the National Championship) comparison with with overall handle/hold figures:

  • 2017 January overall handle: $454.4M
  • 2017 January hold: $7.95M (1.75%)
  • 2017 January football handle: $220M
  • 2017 January basketball handle: $203.5M

  • 2018 January handle: $418.2M
  • 2018 January hold: $25M (6%)
  • 2018 January football handle: $179.6M
  • 2018 January basketball handle: $202M

For good measure, let’s throw in the January 2016 total sportsbook handle: $448.5 million.

“Handle was $418.2 million and the books had a great month [in January 2018] on the win side due to a much improved hold % this year in football compared to last year (4.35% vs. -3.81%)” said Michael Lawton, NGCB Senior Research Analyst, Tax and License Division, in an e-mail to SportsHandle on Wednesday. “During the playoffs in January, underdogs were very successful against the spread, covering in almost every game.  This was the driver for the month.”

[Stay tuned at our Facebook page and Twitter @sports_handle for the latest]

Now let’s return where we started: the Super Bowl was a record breaker. $158.6M wagered on Super Bowl LII broke the previous record from 2017 of $138.5M. Basketball betting held steady at almost the same figure. Keep in mind the January football slate is just 10 NFL games and six bowl games (the CFB Playoffs and a couple other games), but football betting was indeed down about $36 million.

To illustrate the absurdity of the @MLB, @NBA "integrity tax." In Jan, the leagues would have divvied $4.2M between them on Nevada sports wagers alone. That would pay for "integrity monitoring" that books/leagues already do. And all NV locations would have revenue cut to $20M.

— Sports Handle (@sports_handle) February 28, 2018

In sum, the dip on total and football handle isn’t what Nevada wanted to see after a 2017 a record $4.87 billion wagered and $248.8 million won. There may be myriad underlying factors; I need to think some more before speculating but I don’t think Patriots or Alabama fatigue is the answer.

Week 17 last year was on Jan 1st.

— Robert Walker (@robertusfsports) February 28, 2018

In any case, as ever, the mantra of late owner of the soon-to-be Las Vegas Raiders, Al Davis, applies: Just win, baby. And at 6%, the books did.


Also Check Out From SportsHandle:

DraftKings Officially Preparing Sports Betting Vertical, Hires Sportsbook Director

Big Ten Tournament Preview, Pick: Can Anyone Beat Sparty?

Nevada Rep. Dina Titus Talks Future of Sports Betting, Need for Hearings

ShareTweetShare
Brett Smiley

Brett Smiley

Brett Smiley is editor-in-chief and co-founder of Sports Handle, which joined forces with the US Bets team in November 2018. He focuses on the sports betting industry and legislation. He's a recreational sports bettor and DFS player himself, focusing on the NFL. In a past life, Smiley practiced commercial litigation in New York City and previously wrote for FOX Sports and SI.com. He lives in New Jersey with his family.

Related Posts

nbc skyline
Analysis

New York Poised For $2 Billion Sports Wagering Handle In January

January 27, 2023
draftkings logo mls
Features

Sports Betting Regulators Seek Proactive Response To Cyber Hacks At DraftKings

December 15, 2022
Load More

Top Stories

patrick mahomes

Mahomes’ Ankle Speculation Twists Line Movement In Chiefs-Bengals Rematch

January 27, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023
rob gronkowski adam vinatieri

Rob Gronkowski Goes Training Montage Route In Latest FanDuel Spot

January 17, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
January 25, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
January 27, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location