March Madness helps Nevada books win $21.5 million on hoops

May 10, 2013 |
March Madness helped Nevada sportsbooks bring in $21.5 million on basketball betting in March, according to the monthly report from the Nevada State Gaming Control Board.

The NCAA tournament, conference tournaments and NBA (the Gaming Control Board does not differentiate between college and NBA basketball) continued to be the big moneymaker for the state’s casinos after raking in $9.95 million in February and $13.9 million in January, bringing the 2013 basketball total to $45.4 million for Nevada.

Sportsbooks on the Las Vegas Strip earned $10.7 million on basketball in March, up from $3.5 million in February. However, that was a 6.62 percent decrease compared to 2012. Strip casinos made more then $20 million on hoops through the first three months of the year.

Outside of basketball, March was a quiet month for Nevada sportsbooks. Spring training baseball helped earn $226,000 while other sports – NASCAR, golf, tennis, boxing, MMA, soccer – brought in $598,000. Books paid out $9.3 million in football during March due to outstanding wagers from the college and NFL seasons coming in.
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