Nevada Sports Betting Sees $641 Million in Wagers For March

The Nevada March sports betting numbers are in, and it was a solid month for the industry. The total sports betting handle between both retail and online sportsbooks was $641 million last month.

The 2021 March numbers represented an increase of 354 percent from the 2020 total, but that was when the industry started to shut down due to COVID-19. The March sports betting total was $87 million more than what was reported in February, showing that this industry is starting to bounce back in a big way.

Sports betting revenue also increased in March, and this is important for a state looking to recover from the COVID-19 pandemic. The March revenue was $39.4 million, an increase of nearly 24 percent from February.

The entire gaming industry in Nevada has seen tremendous growth since the start of 2021, with the total gaming win last month reaching $1.07 billion. Last March, the total gaming win was just over $600 million, but most retail properties were closed for a portion of the month.

In-Person Registration Hurting Mobile Betting

Nevada continues to see limited growth in mobile betting, and the in-person registration requirement is a big reason. Illinois is the only other state that requires this form of registration, and the rest of the country has seen substantial mobile betting numbers by allowing remote registration.

The mobile sports betting handle made up just 60 percent of the total in March, which is much different from what occurs in other states. Most states with both forms of betting see nearly 90 percent of all wagers placed online.

The state legislature is not planning to change the in-person requirement any time soon, and Nevada will continue to see limited growth because of this.

Basketball Leads the Way

With the NCAA Tournament taking place in March, basketball was the most popular sport to bet on in Nevada. Betting on basketball brought in over $500 million and accounted for nearly 80 percent of all wagers placed.

The second category that brought in the most handle was “Other,” representing unique or less-popular sports. Hockey was the next biggest sport with $58 million wagered, and the Vegas Golden Knights’ success has a lot to do with that number. At the time of publication, the Golden Knights are in first place in the league by points percentage.

Still Trailing New Jersey

Despite a positive report in the March sports betting numbers, Nevada continues to trail New Jersey by a wide margin. New Jersey posted a total sports betting handle of $859.6 million as that market remains the clear leader.

There is a slight chance that Nevada could jump up to the number three spot when all of the March numbers or announced. Illinois is usually one of the last states to report sports betting figures, and that market could top Nevada.

Pennsylvania is currently third on the list, with a total sports betting handle of $560.3 million for March. Michigan ($383.7 million) and Indiana ($316.7 million) currently round out the top five.