Sports betting has been a hot topic of discussion in the US with states legalising it while others still remain apprehensive about it. Unlike these apprehensive states, Nevada was the first state to legalise sports betting alongside live and off-track horse betting in 1949. Prior to its legalisation, sports betting operated under organised crime syndicates.
Nevada remained as the only state that had legalized sports betting for a number of years until recently when other states joined in. Since the Professional and Amateur Sports Protection Act (PASPA) of 1992 which prohibited future state expansion of sports betting, Nevada remained as the only legal US monopoly on single-game wagering. Other states began to challenge the federal ban, led by the New Jersey governor at the time, Chris Christie. The year-long legal battle ended up in the Supreme Court where the PASPA ban was stricken off as a violation of the tenth amendment.
The Nevada monopoly on sports betting has seen its final days but the industry is still making progress. These are the stories making headlines in Nevada sports betting.
- Nevada sports betting breaks another record
Nevada sports betting is leading the way with a record haul. In the US, the national sports wagering handle in November closed in on $1 billion. Of this, Nevada sportsbooks took $581 million in sports wager. This beset the single-month record of $571 million that was set in August. The sports betting revenue translated to more than $27 million which was close to state historical average.
In Nevada, November is usually a good month because of the confluence of NFL, college football, NBA and college basketball. All these numbers simply mean that Nevada is the leading state in sports betting revenue and sports wagers.
Where Nevada bettors put their money
- $374 million was wagered on football. Books held more than $18 million of the total
- $152 million was wagered on basketball with sportsbooks holding 7% of the wager. Silver state casinos made $11 million in revenue
- Baseball futures were a great deal in November especially when the Boston Red Sox completed a World Series title run as a strong favorite.
- Draftkings sportsbook coming to Nevada
Draftkings is the first sport betting platform that allows you to bet across web and mobile channels statewide. More than just being the first online sportsbook in the state, it is also currently the biggest in terms of revenue.
Despite all these achievements, Draftkings is not available in many states but it is set to come to Nevada. Why? Because Draftkings is now a sports betting company, an activity that is very much legal and thriving in silver state. Earlier on, the company was a daily fantasy sports company which was explicitly prohibited in Nevada.
In the very near future, Draftkings will be establishing land-based Draftkings sportsbooks beside the only two based in New Jersey and Mississippi. The two land-based Draftkings sportsbooks are:
- Draftkings Sportbook at resorts, New Jersey
- Draftkings sportsbook at scarlet pearl resort, Mississippi
Sports available for wagering in Nevada
There are many sports and events that Nevada sports bettors can wager on in a year. The sports available for betting in the state include:
- NFL
- College football
- Canadian football
- Australian Rules football
- Rugby
- NBA
- College basketball
- MLB and some international baseball competitions
- NHL and some international hockey competitions
- MLS, international soccer matches and competitions
- Boxing and mixed martial arts
- Auto racing including NASCAR, Indy, Formula One
- Cycling
- Tennis
- Golf
- Esports
- Horse and virtual horse racing
It was only in 2001 when it became legal to wager on collegiate sports.
Legal sports betting in Nevada casinos
The offerings of Nevada sportsbooks seem to be growing wide day by day. There are more sports betting options available to Nevada bettors. The sports wagers available in land-based casinos include:
- Point spread which is a common wager on football and basketball. It involves a point spread where a handicap sets a favorite and requires that team to win by a certain number of points
- Money line where a bettor picks a side to win the game outright
- Totals where a total wager is made on the number of point scored when both teams are added together
- Partial game lines which is increasingly growing in Nevada. It is where the lines and totals are only for action that takes place during a certain part of the game
- Parlay, common in Nevada are bets that always include two or more outcomes
- Teasers involves two or more outcomes but the bettor receives extra pint on each line within the teaser
- Pleasers which are reverse teasers
- Round robin, a simpler way of betting multiple parlays
- Futures where bets come in several forms
- In-play, which has become one of the fastest growing types of wagering in Nevada because of mobile sports wagering apps. It involves a bettor placing a wager on a game that is already in progress
- Propositional wagers are exotic bets which are based on outcomes not depend on the full game.
Nevada sportsbooks offered in casinos
Nevada casinos offer sportsbooks with the size and scope of the operation varying depending on the size and customer base of the casino. Sportsbooks offered in casinos are like:
- Westgate , the largest sportsbook in the world with some of the best 4K screens to watch games
- Wynn Las Vegas, an independent sportsbook with generous payouts, early lines and large wagers
- Station Casinos, the largest locals’ casino company in Las Vegas with sportsbooks like red rock resort, green valley ranch, palace station etc.
- CG technology
- Caesars entertainment
- MGM Resorts International
- William Hill
- Boyd Gaming
- South Point
- Treasure Island
- Jerry’s Nugget
It is true that Nevada may not be the only state that has legalized sports betting. But this has in no way dented the expected expansion in Nevada’s thriving gambling industry. The betting at racetrack in some states does not compare to the experiences in casinos around the state of Nevada. May be it is because Nevada remained a monopoly for a very long time.
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