Nevada Sports Betting Handle Gets Bump from March Madness But Misses Billion-Dollar Mark

The Nevada Gaming Control Board (NGCB) recently announced that retail and online sports betting in the Silver State added up to a handle of $863.3 million for March.

Last Updated: May 2, 2022 10:27 AM ET Read Time: 2 min
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Sportsbooks in Nevada saw an increase in wagering in March compared to February, but the state missed taking in $1 billion in bets for the second consecutive month. 

The Nevada Gaming Control Board (NGCB) recently announced that retail and online sports betting in the Silver State added up to a handle of $863.3 million for March. 

That represented a 10.6% increase from February’s $780.8 million. However, January 2022 was the last time Nevada had $1 billion or more in sports wagers, completing a four-month streak of billion-dollar months stretching back to October 2021. 

Though the Silver State didn’t reach $1 billion in March, it was still third in the country for handle in the month behind New York ($1.6 billion) and New Jersey ($1.12 billion). The haul was also 34.7% higher than Nevada's March 2021 handle, which was $641 million.

A mixed bag 

Legal online sports betting continued to make strides in Nevada. Betting apps represented $576.6 million — or 66.8% — of the $863.3 million in total handle for March. 

That was an increase of 49.7% compared to March 2021, which saw $385.1 million in mobile wagers. It was also 12.5% higher than February’s $512.4 million. 

The revenue, however, was lower than the year before. March 2022 revenue was $36.9 million, down 6.2% from March 2021’s figure of $39.3 million. Still, it was 19.4% more than the February 2022 amount of $30.9 million. 

Big basketball month

The NGCB doesn’t separate professional from college basketball in its handle figures, so collectively the two sports took in $708 million in wagers for March. With the NCAA Tournament being played during the month, the percentage of basketball handle attributed to the event was estimated by the NGCB at 70%. 

Other sports that aren’t football, baseball, basketball, or hockey collected $74 million, down from $81.8 million in February. Hockey was right behind at $73.9 million, up from February’s total of $59.5 million. 

Parlays took in $3.81 million for the month, while baseball saw a $5.6-million handle for March. 

Football had no professional leagues playing during March, as the USFL didn’t start until April. Nevada bookmakers took a $17.5-million loss on the sport during the month, most likely explained by bettors cashing winning tickets they were holding. 

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