Nevada sportsbooks continue to win big on basketball in February

Apr 10, 2013 |
Basketball betting continued to be a slam dunk for Nevada sportsbooks in February.

After earning $13.9 million on NBA and college basketball in January – a record-high win for the sport that month – Nevada books raked in $9.95 million on hoops betting in February, according to the State Gaming Control Board.

That total of $23.85 million is a record two-month take for the state over January and February and the hold percent of 7.83 in that span is well above average, Michael Lawton, Senior Research Analyst for the Gaming Control Board, told Covers.

February's basketball earnings were a 26 percent increase for Nevada compared to last February’s basketball figures. Sportsbooks on the Las Vegas Strip earned $3.5 million on hoops betting in February 2013 but that was a 15 percent decrease compared to 2012’s numbers.

February also played host to the single biggest betting day in the state, Super Bowl Sunday on Feb. 3. According to the Gaming Control Board, books won $7.2 million from a handle of $98.9 million for Super Bowl XLVII – Nevada’s biggest win on the Super Bowl since 2007.

Those earning were tempered with outstanding bets on NFL and college football trickling in throughout February. Nevada sportsbooks finished with a win of $2.26 million on football for the month – a 38 percent increase compared to February 2012. Those are more-than-welcome figures after Nevada books took one of the chin in January for a loss of $5.8 million on football betting.

"Obviously there was a lot of activity from January that was recorded in February depending on how our books recognized tickets," says Lawton.

The start of the lockout-shortened NHL season helped sportsbooks earn $1.7 million on sports categorized as “other”, including boxing, MMA, golf, tennis and NASCAR, which opened its season with the Daytona 500 on Feb. 24. “Other” sports brought in just $553,000 in earnings in January.

Parlay card earnings were up from January’s win of $205,000 to $760,000 in February. Those totals pale in comparison to the $2 million Nevada books earned on parlays in December 2012.

Overall, Nevada sportsbooks won $14.27 million in February, a jump from the $8.2 million earned in January.

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