A recent announcement confirmed that gambling revenue in Nevada soared to a new all-time peak of $1.36bn in July, with a stellar performance by sportsbooks in the US state a driving factor to this unprecedented growth.
This enormous total beat the last record of $1.23bn, which was set back in May of 2021. Now though, July 2021 is easily the most lucrative month for gambling in Nevada since the practice was legalized back in 1931.
On the news, James King from CasinoSites.org said: "This enormous jump in revenue during 2021 has led to yet another record-setting month in Nevada."
"Although sportsbook performance could be the driver behind the setting of the record, the reality is that casinos remain the bedrock of Las Vegas betting, as well as revenues across Nevada in less well known casino destinations such as Reno and others."
In this article, we will take a closer look at the news that Nevada gambling revenue has reached a record high of $1.36bn in July 2021. We will consider how this has been achieved as well as the areas of the state that performed best.
So, without further ado, let's take a look at the breakdown of how this record was set, with gambling in Nevada quite clearly in better shape than ever before!
How exactly was Nevada able to set new records in terms of gambling revenue in July 2021? Well, the COVID pandemic certainly looks to have had an impact. For starters, the month was up 79.7% year-on-year from $756.8m in July 2020. This is a total of 14.3% more income than the $1.19bn generated back in June of 2021.
As we have mentioned, the sportsbook revenue soared up to a record $33.3m, with pari-mutuel racebook revenue amounting to $3.2m.
Of all sports, baseball was the most popular to bet on with punters, hitting an enormous $19.0m in total revenue, far out ahead of basketball, which hit a surprising low $5.9m.
According to data published by the Nevada Gaming Control board, $13.6m in sports betting totals came from bets placed online, which will make for pleasant reading indeed for those focused on the future of the internet in gambling.
The famous gambling mecca of Las Vegas, set in Clark County, was responsible for $1.16bn of the total revenue made during the month of July, with the legendary Las Vegas Strip making more than $409.6m of the overall revenue in the monthly total.
Considering gambling products and services, slots was quite predictably the most wildly popular type of gambling in the state, making over $873.7m of revenue in the month of July, a slight increase on the total of $868.1m back in June of this year.
The total generated by table, counter and card games went up by 49.5% month-on-month to a total of $468.2m, with blackjack generating the most with a whopping $160.1m in earnings.