Nevada Could make $5B in 2016

A report published by the Las Vegas Review journal states that the Nevada sports betting handle is estimated to reach over $5 billion dollars in 2016. This will be due to the record handle in March. The constant progress of Nevada sports betting has come at a time when legislators on Capitol Hill are starting to feel pressure as they prepare to amend the existing sports betting laws. A federal act put in place in 1992 restricts sports betting to very few states. Nevada is the only jurisdiction that allows the sports betting activity.

In March, the Sports Books in Nevada recorded an amount of $458 million in bets. This was after recording $363 million in total bets on February and around $450 million that was gambled in January. This was a previous record amount. In 2015, Nevada Sports books recorded $4.2 billion in wager amounts which was the greatest amount recorded for Silver State casino industry. This was the only time that the handle ever went further than $4 billion. 5.47% of the betting amount was won by Nevada and the $231.8 million in revenue was the greatest amount for the sports books. The sports betting locations had increased from 190 in the previous year to 196 in 2015.

In total the gaming revenue for Nevada was $11,114,081,000 where sports betting had 2.095 of the total gaming win. Research from the University of Nevada Las Vegas showed that was one of the greatest revenues ever made. The sports betting’s increase has come at a period in which sports win as a percentage of the cumulative Nevada casino industry is at the lowest level. Nevada gaming watchdogs and sports betting are looking for a way that gamblers can use their online betting accounts to some degree when they are outside of Silver State. This is in preparation for a possible future of authorized and controlled gambling countrywide.

Sports’ betting is becoming acceptable in many places and the NFL quest of taking his team to Las Vegas has led the NFL to recognize that their ant-gambling position is changing.

This article is published in: Sports Betting
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