Pandemic impact on Nevada sports activities betting clear in December

0
79

Nevada December was the second most popular sports betting action in any US state, even though the grip was relatively down

The Silver state came just before PennsylvaniaWith $ 588 million in the sports betting handle.

Nevada's $ 588 million number fell 3.5% Month for month. And it was around downstairs too 11% from the state record $ 660 million bet in October.

Retail bets were omitted 40% of the entire handle compared to 60% for online. Nevada continues to lag behind the rest of the country in adopting mobile devices due to its secret rules that require personal account registration.

The state deserves $ 2.8 million in taxes for the month.

Strong retention rates

Nevada sports betting revenue for December was included $ 40.6 million, good for a retention rate of 6.8%. These sales figures were in decline 33% from November and Nevada immediately behind it Pennsylvania for the month good for the third in the US.

And it was a similar story for the whole year.

For CY2020, Nevada Sportsbook won $ 262.8 million, Down 20% from 2019. That got it around $ 7 million behind the PA sports betting market that delivered $ 270 million.

Year-round sports betting in Nevada also fell 19% to $ 4.3 billion, reflecting the impact of the pandemic on weather outside of the state. Nevada casinos closed for a month at the start of the pandemic and were 50% or less busy for the remainder of 2020.

What's Next for Sports Betting in Nevada?

It's hard to overestimate the impact of the pandemic on Nevada and Nevada Las Vegas, Given the prevalence of bettors outside of the state and the size of the retail contest. It will be fascinating to see how it recovers when the restrictions lift, especially when compared to an online heavy state like PA.

As for the broader market, the notable US sports betting grip has already surpassed in December $ 3.27 billionalready before Illinois presents his numbers. November was the previous high water mark at $ 3.25 billion.

With the recent addition of Virginia and MichiganMonthly settlement could well exceed $ 3.5 billion in early 2021.