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September 20, 2014

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Bettors set all-time record for Nevada football betting in September

Football betting reached an all-time high in Nevada casinos in September despite a law restricting smaller clubs from taking wagers.

The 2013 Nevada Legislature, at the urging of big casinos, passed Senate Bill 416, which outlawed small taverns or slot operations from taking football wagers and other sports bets. More than 50 locations were affected.

But there was still $337 million bet on football games, 7.8 percent higher than in September 2012, which is the second-highest month on record.

“The volume was not affected (by the new law),” said Michael Lawton, senior research analyst for the Nevada Gaming Control Board, which released the figures today. “It was a great month for football.”

While the volume rose, the gross win kept by casinos fell by 35.7 percent to $27.9 million.

Lawton said casinos kept 13.9 percent of the money wagered in September 2012, but this September, the “hold” dropped to 8.2 percent.

The board reported that the amount of money bet on sports parlay cards rose to $12.8 million, 5.1 percent higher than a year ago. Gross win on sports parlay cards, however, fell 38 percent to $4.9 million in September. The 169 casinos kept 38.8 percent of the money wagered this September compared with 63.8 percent of a year ago.

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