Nevada Sportsbooks See Record $1.1 Billion Worth of Bets in October

Scott Polacek@@ScottPolacekFeatured Columnist IVNovember 30, 2021

UNITED STATES - AUGUST 23: The Las Vegas Strip lights up at sunset in Las Vegas, Nev., on Sunday, Aug. 23, 2020. (Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images)
Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images

Sports bettors were reportedly quite active in October.

According to David Purdum of ESPN, sportsbooks in Nevada accepted $1.1 billion in bets during the month. It easily surpassed the state's previous record of $786.5 million wagered in September.

New Jersey is now no longer the only state to accept more than $1 billion in sports bets in a month after it did so in September and October.

Bettors weren't just gambling more in October. They also had more success.

Purdum noted sportsbooks hold approximately 5.5 percent of the money bet as profits in an average month, but that total for college and professional football alone was just 4.1 percent in October as gamblers won more often.

However, the sportsbooks have bounced back in November, with Purdum pointing out the SuperBook at Westgate Las Vegas is on pace to hold about 6.25 percent this month.

That October was such a popular month for sports gambling isn't a particular surprise.

Between the NFL and college football hitting their strides, the MLB playoffs, and the start of the NBA and NHL seasons, all of the major sports in the United States coincide with each other at times during the month.

Throw in the push toward the MLS playoffs, multiple PGA Tour tournaments and the NASCAR Cup Series playoffs, and there were plenty of opportunities for those who were interested in gambling on sports.

The upward trend could continue with the return of men's and women's college basketball, bowl season in college football and the playoff chase in the NFL in the coming months as sports gambling continues to gain in popularity.