Nevada books break records with basketball betting in January

Mar 8, 2013 |
Nevada sportsbooks opened 2013 with a slam dunk, thanks to almost $14 million won on basketball betting in January.

According to the Nevada State Gaming Control Board, basketball – NBA and NCAAB – brought in $13.9 million, which ranked as the highest January total for the sport ever and the 10th-highest month for basketball in the state’s history.

Those earnings offset a loss of $5.8 million on football betting – NFL playoffs and NCAAF bowl games – in January. Those numbers are a huge dip from the $27.2 million won on football in December, which helped make 2012 a record setting year for Nevada sportsbooks. They took in a record-breaking $3.4 billion in bets and earned $170 million last year – the second-highest amount in state history.

“The regular season ended on December 30, 2012 and there were a large number of players who cashed out in January,” Michael Lawton, Senior Research Analyst for the Gaming Control Board, told Covers.

“In addition, there were three January NFL games that the public won big on - 49ers over Falcons, Ravens over Pats, and Texans-Pats going over - as well as Alabama over Notre Dame (in the BCS Championship).”

Sportsbooks on the Las Vegas Strip won $5.75 million on basketball betting but dropped $6.7 million to football bettors in January. That’s a major hit after raking in more than $12.8 on football alone the previous month.

Parlay card earnings were also down, bringing in only $205,000 statewide in January compared to the $2 million earned in December. Nevada books took in $553,000 on sports categorized as "other" in January, an increase from the $755,000 lost the previous month.

Overall, Nevada sportsbooks earned $8.2 million in January, not as much as the $30.24 million won in December but not anywhere near the $8.17 million lost in November.

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