Nevada Casinos See More Than $1 Billion Gaming Win Again

Written By Marc Meltzer on December 2, 2021

October was another record-breaking month for Nevada casinos. According to the monthly revenue report from the Nevada Gaming Control Board (NGCB), casinos in the Silver State won more than a billion dollars again.

In addition to it being the eighth consecutive month, Nevada casinos won a billion dollars or more in 2021. They tied the record for consecutive months with over a billion won in gaming.

Overall, Nevada casinos won $1.2 billion from all games. Thus including a win of $48.3 million from a record-breaking $1.1 billion in sports wagers for the month. According to the NGCB,

“This amounts to a 48.54% increase compared to October 2020, when licensees reported a gaming win of $822,271,869. For the fiscal year (July 1, 2021, through October 31, 2021), gaming win has increased 56.05%.”

Casinos can once again thank increased visitation to Las Vegas and other gaming markets in Nevada.

First-ever billion-dollar sports betting handle

Record-breaking billion-dollar sports betting handle helped push the overall gaming revenue in Nevada. Bettors wagered a record $1.1 billion at Nevada sportsbooks in October. With the result that was the first time, sports betting handle was more than a billion dollars wagered in Nevada sportsbooks.

New Jersey is the other state that has broken the billion-dollar handle threshold. The Garden State reported $1.3 billion in handle earlier this month.

Previously the record-breaking handle for Nevada sportsbooks happened just a month ago, in September. There was a record $786.5 million in sports bets last month.

While the amount of money wagered in sports was impressive, the amount won by sportsbooks wasn’t. Nevada casinos only won $48.3 million from sports betting. That’s an overall win percentage of 4.39% for the month.

The low win rate isn’t much of a surprise as Nevada sports bettors had an excellent month wagering football.

Pro and college football has more money wagers than any other sport in Nevada. The sportsbooks won $29.8 million from football wagers in October. That was good for a 4.08% win, in line with the overall sports betting win percentage.

About 10% of all sports bets in Nevada were on college and pro basketball in October. Handle for hoops in October was $110.93 million. Sportsbooks won $7.998 million. The 7.21% win was the best of all sports wagered on in October.

Bettors using Nevada sports betting apps faired better than their counterparts inside casinos. Nevada sportsbooks won only 2.4% of all money wagered on sports via mobile devices.

Overall casino gaming win

Winning in October gaming makes it a notable month for Nevada casinos. Specifically, this was the first time before the last recession in 2007 that Nevada casinos saw an overall gaming win of more than a billion dollars for the eight consecutive months.

Noticeably, casinos are winning more than last year when visitation was significantly lower due to Covid-19. The October gaming win is even more impressive because the monthly casino win was up 19.5% from October 2019 before the world was introduced to Covid-19.

While the sports betting handle for the month was impressive, its paltry 4.3% win wasn’t. Sports betting had the smallest win of any casino game. Here are the six games that generated the highest win in Nevada in October:

  • Slot Machines $790.3 million (6.76% win)
  • Blackjack $115.4 million (12.99% win)
  • Baccarat $92.4 million (14.96% win)
  • Sports $48.3 million (4.3% win)
  • Roulette $40.4 million (20.46% win)
  • Craps $35.6 million (13.46% win)

Three Card Poker had a 31.67% win percentage for casinos. With the result that it was the highest win percentage for casinos of all games in October.

Photo by Odu Mazza / Shutterstock.com
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Marc Meltzer

Marc grew up on the mean streets of the South Bronx. He's the rare combination of Yankees and Jets fan which explains his often contrarian point of view. Marc is a freelance writer and social media consultant. Writing about steak, booze, gambling and Las Vegas is a tough job but somebody has to do it.

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