While many industries are in recession or decline, the online and land-based gambling industry continues to grow steadily in the U.S
Despite Covid-restrictions, Nevada – the home of Las Vegas sports betting reported its first billion-dollar month since February 2020, with casinos in the state collecting $1.066 billion in revenue in March 2021, the largest total since Feb 2013.
Casinos on the ‘Vegas strip (including Bellagio and MGM) accounted for $501.4 million (a 67.2% increase over March last year). As well as card-games like poker and table games like blackjack, and roulette, progressive jackpot slots in Vegas continue to deliver life-changing jackpot wins as well as consistent media coverage, which helps in attracting tourists and gamblers worldwide.
Reno Casinos delivered a huge increase in revenues when compared with March 2020, with in excess of $59 million in casino revenue – up 163.7%. In downtown Las Vegas – casinos reported a record-breaking $71 million in revenue.
March Madness Delivers
The source of much of the increased sports betting action was the 2021 March Madness Tournament (run by the NCAA) which was responsible for a more than 350% increase in bets compared to when the last tournament ran in 2020.
Total Nevada sportsbooks sports betting handle came in at $640.7 million.
Total revenues amounted to $39.3 million which is a significant improvement on last year’s loss of $37.9 million.
Football Vs Basketball
Sports-betting operators in Nevada took a hit on football – having to pay out $8.2 million after taking in just $2.7M in wagers.
Basketball betting accounted for $501 million of the total sports betting handle for Nevada in March.
Vegas Re-opens & WSOP Dates Announced
Nevada casinos can also look forward to the return of the annual World Series of Poker(WSOP) – which is scheduled to play out over the felt at the Rio in Las Vegas (pending applicable state and/or regulatory approvals) from Thursday September 30th until Tuesday, November 23rd 2021
Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
