Nevada Sportsbooks Set February Record

Bolstered by the Super Bowl between the Atlanta Falcons and public favorites, New England, Nevada sportsbooks reported a $380 million handle in February. The figure is an all-time record for the month. Last year was the only other February in history that Nevada sportsbooks exceeded $300 million in wagers. The Nevada Gaming Control Board reported sportsbooks won $20.8 million in February. It was the 43rd straight month that Nevada sportsbooks have posted a profit. Overall, the news wasn’t that great for casinos, which managed to win more than $940 million. Still, that figure was a 4.48% decrease from February, 2016.

The $20.8 million helped make up for a rough January for Nevada books. While sportsbooks reported a $7.9 million profit, they lost more than $8 million on football, but were able to make it up in basketball. Last year, sportsbooks made $28 million in February, but it is important to remember that 2016 was a Leap Year, meaning there was one more day in the month. For the month sportsbooks reported a profit of $18 million from college basketball and the NBA. Still, it’s hard to feel too bad for the Nevada sportsbooks. For the 2016 season, they showed a profit of $81 million, the second-most profitable season ever.

Wagering in the Super Bowl alone accounted for $138 million, an increase of $6 million from the previous year. Nevada sportsbooks account for just a minute portion of total bets made, with most estimates of less than 2% of the total dollars wagered throughout the world.

The next big test for Nevada sportsbooks will be the March Madness numbers. Those numbers should be released by the Gaming Control Board at the end of April. Last year there were $458 million in wagers made during March. That means $500 million isn’t out of the question, but it probably isn’t realistic. Still, it would be a good sign for the sportsbooks heading into the slower summer months/