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