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USATSI

Nevada's sports betting market handled $1.1 billion in bets this past October, the Nevada Gaming Control Board announced Tuesday. It's the first month above $1 billion in Nevada history and far above its previous record of $786.5 million from September. 

The state's $1.1 billion in sports betting is 66.8% higher than October 2020 and 102.3% higher than October 2019, and it includes a record $728.6 million in wagers toward professional and college football games. 

Despite its storied history as a sports-gambling hub, Nevada isn't the first state to record at least $1 billion in bets in a month. New Jersey cleared that number in September and October. 

Sportsbooks are benefitting from the betting increase in Nevada. The state's sportsbooks won $48.3 million in October, a 14% increase over the amount it earned in October 2020.

Online sports betting has driven the rise, as 64% of the total handle came through mobile-app sports wagering. An extra NFL Sunday and the Raiders' presence in Las Vegas are also contributing. 

"Another contributing factor is this month also had five weekends of NFL games which obviously contributed to the football totals," NGCB senior economic analyst Michael Lawton told Covers via email. "The final point, we are hearing which is more difficult to quantify is the impact of the Raiders games at Allegiant Stadium. Raiders home games have been generating higher wagering totals for some operators compared to when they are playing on the road thus far."