Nevada still the King in handle

#2
Nevada average sports handle for September 2013-2017 was around $450M. Last year it jumped to $571M, almost certain to exceed NJ, but NJ is rapidly closing the gap in the football and hoops seasons.
 
#4
agree closing the gap... last year New Jersey did not have as many places to play along with....the marketing news was just kicking off online
 
#5
CB. How much of NJ total do you estimate was Nevada money moved east once approved.
I really don't have much of an estimate.

In the old days, quite a few bookies laid off local bets with Nevada books to reduce liability. Then messenger betting was cracked down on, but the overall market grew to make up for any shortfall. Mobile betting fed the Nevada growth. Bottom line is probably a bit of money moved to NJ and other states, but not much.
 
#6
None gets moved from legal Nevada bets into NJ or vice versa. It's very difficult to do it without a trail of evidence and if caught it would bring a harsh response from the feds which is last thing any casino wants. Besides the books these days are far more willing to take positions on games and almost no bookmaker cares about balanced books. They have banned or limited the action they really don't want and the national books look at risk across states so they don't have to worry about local risk.
 
#7
None gets moved from legal Nevada bets into NJ or vice versa. It's very difficult to do it without a trail of evidence and if caught it would bring a harsh response from the feds which is last thing any casino wants. Besides the books these days are far more willing to take positions on games and almost no bookmaker cares about balanced books. They have banned or limited the action they really don't want and the national books look at risk across states so they don't have to worry about local risk.


william hill has different lines with NJ and nevada
caesars the same lines with NJ and nevada
golden Nugget - Not the same as Nevada - uses SB tech ..sort of a copy of the resorts casino line with a few -105 games per week
hard rock- not the same as Nevada - uses GIG - wide margins
MGM - does not look like the Nevada lines Mirage on don best --- NJ - worthless extra wide margins - IGT ( Ladbrokes ) from UK


Nevada did not move the cream of the crop books to NJ ... hopefully CG tech , SuperBook ( WestGate ) & Wynn show up like what was said in the news.
 
#8
Of course, there is some movement of "money", "handle" and "action" from Nevada bettors to NJ and other states.

Guys like Krackman, Spanky, Voodoo, et al have spent time betting in NJ and have no doubt shifted their bets somewhat. Even our fearless leader, John Kelly, has broaden his horizons to include Iowa and Indiana sportsbooks and has thus has moved his action somewhat. There are probably some east coast bettors who have cut down on vacation trips to Vegas and reduced offshore/local action and instead bet in NJ, PA, RI, De, etc. Overall, relatively small tweaks to the total handle, but there is some effect.
 
#10
New Jersey sports betting handle by month:


June/Jul '18: $57 mil
Aug.: $95
Sept.: $184
Oct.: $260.7
Nov. $330
Dec.: $319
Jan. '19: $385 mil
Feb.: $320
March: $372.4
Apr. : $313
May: $318.9
June: $273.2
July: $251.3
Aug.: $293.5
Sept. $445.5


Total: $4.2 BILLION
 
Last edited:
#11
And coming up fast ...

Tweet by Sportswriter Brian Pempus:

NEW: PA sports betting numbers from September: $194.5 mm handle, with $19.3 mm in revenue

Retail handle was $36.3 mm; online/mobile $158.1 mm.
 
#12
Nevada easily eclipsed New Jersey's sports betting handle in September with $546.2 million compared to $445.6 million for NJ.


mathew waters twitter
 
Last edited:
#14
You can see the impact sports betting elsewhere is having on Nevada. Just check out room rates in Las Vegas for Super Bowl (oops, Big Game) weekend. Its one of the cheapest weekends of the winter season. Used to be super expensive and all the table limits would go way up, now people in other states aren't bothering to come out for the experience when they can do it at home or just go to a closer state to do the same thing.
 
#15
You can see the impact sports betting elsewhere is having on Nevada. Just check out room rates in Las Vegas for Super Bowl (oops, Big Game) weekend. Its one of the cheapest weekends of the winter season. Used to be super expensive and all the table limits would go way up, now people in other states aren't bothering to come out for the experience when they can do it at home or just go to a closer state to do the same thing.

or are people buckling up for bad times ahead ? the country has been on a run along with this is an election year coming... people could be worrying about the future.
 
#16
You can see the impact sports betting elsewhere is having on Nevada. Just check out room rates in Las Vegas for Super Bowl (oops, Big Game) weekend. Its one of the cheapest weekends of the winter season. Used to be super expensive and all the table limits would go way up, now people in other states aren't bothering to come out for the experience when they can do it at home or just go to a closer state to do the same thing.

322k expected visitors in town for thanksgiving.. Sounds pretty good.. like JK says hold that phone.
 
#17
or are people buckling up for bad times ahead ? the country has been on a run along with this is an election year coming... people could be worrying about the future.
I'm not comparing rates to the past, I'm comparing to rates in 2020, so has no read through on the economy. In January there is one weekend with lower rates than Big Game weekend. In February, that weekend is the cheapest. March is a lot more expensive because that's prime season. This used to be a weekend you had to book months in advance or find your preferred hotel was sold out. I think their inability to offer public parties is also a factor, the VIPs still get a nice setup if they come, but the average Joe paying for his room has only a few choices of free to enter parties where you have to buy everything. Maybe Caesars can hit up the NFL and say now that we are partners can you let up on us in Las Vegas.
 
#18
I'm not comparing rates to the past, I'm comparing to rates in 2020, so has no read through on the economy. In January there is one weekend with lower rates than Big Game weekend. In February, that weekend is the cheapest. March is a lot more expensive because that's prime season. This used to be a weekend you had to book months in advance or find your preferred hotel was sold out. I think their inability to offer public parties is also a factor, the VIPs still get a nice setup if they come, but the average Joe paying for his room has only a few choices of free to enter parties where you have to buy everything. Maybe Caesars can hit up the NFL and say now that we are partners can you let up on us in Las Vegas.

i agree the prices are cheap... just checked it out.. BUT the parking went up !


:)
 

Voodoo

EOG Addicted
#20
I'm in Jersey now and it's so tough to gauge the activity just by what's going on in the book.
Yesterday was relatively slow. A bit of a line right before a game would start but no big deal.

Would really like to see a breakdown for all jurisdictions that offer mobile and counter betting.
What percent of action is live and what pct is mobile. I have to think Jersey has a much, much bigger
disparity between mobile and counter.

The in-person Vegas sports book experience is still tops by a wide margin.

Super Bowl is a whole different story though. You almost have to be using mobile betting due to the crazy
long lines of folks who take 10 minutes to make a bet.
 
#23
I'm in Jersey now and it's so tough to gauge the activity just by what's going on in the book.
Yesterday was relatively slow. A bit of a line right before a game would start but no big deal.

Would really like to see a breakdown for all jurisdictions that offer mobile and counter betting.
What percent of action is live and what pct is mobile. I have to think Jersey has a much, much bigger
disparity between mobile and counter.

The in-person Vegas sports book experience is still tops by a wide margin.

Super Bowl is a whole different story though. You almost have to be using mobile betting due to the crazy
long lines of folks who take 10 minutes to make a bet.
The big names on the Strip get about 80/20 counter and app, but thats skewed because you can't make the huge wagers you read about on the app. The others are more like 75/25 app and counter. The state doesn't give numbers but the best guess is its slightly more counter than app because of the six and seven figure counter bets in Vegas. The stupid sign up and funding rules of Nevada also makes it really hard to ever get to 80/20 or better like NJ is seeing. Iowa and Indiana will get there as well. Most of my Vegas friends have one, maybe two apps they use. I have seven with some funds in them and I don't even live in Nevada.
 
Top