The Gambler's Report: Another Season; Familiar Ending

Another week flies by and the big news of last week was, of course, the Super Bowl. The New England Patriots led by Tom Brady and Bill Belichick are once again champions of the NFL in the lowest scoring Super Bowl of all time. The NHL is now under 30 games remaining as teams continue to vie for playoff positions. And the NBA is heading toward the home stretch with the trade deadline days away and still no decision on where Anthony Davis will end up.  And sports betting continues on course to quickly spread the US landscape. Let's dive right in and take a look around the industry in this week's Gambler's Report. 


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Nevada's Handle Comes Up Short For The Big One 

The game itself failed to live up to expectations by most measurable means. Low scoring, lower viewership, and a lower betting handle than expected in the state of Nevada. The almost $146 million was down 8% from last years record-breaking $158 million wagered on the Eagles and the Patriots. Don't feel too bad for the books though as the number still represents the second largest handle and the books had a hold of 7.4% for over $10 million in profit.  The books are chalking up some of the slowed action to Patriot fatigue as the Pats have played in four of the last five Super Bowls. 

Record-Breaking Year

While the Super Bowl betting handle may have come up short from setting a new record there was still plenty of action to be had in Nevada as the state set a new record with $5 billion bet in 2018.  Books in Nevada also set a record for net win taking in over $301 million in profits shattering the previous record of $248.7 million set in 2017. Sports betting continues to grow and the numbers are plain as day to see.  


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Jersey Doesn't Fair Quite As Well

While Nevada took in a healthy hold on the big game the casino industry in New Jersey was not quite so lucky. Money poured in on the Patriots to the tune of costing the state casinos $4.5 million. The total Super Bowl handle was just under $35 million. 

A First In The States

Clearly in a hurry to win back their Super Bowl losses (joke). New Jersey will become the first state in the US to take bets on the Academy Awards.  Nevada has long offered legal betting but has never taken action on who wins the Oscar. Imagine limits will be rather small but it's a step in the right direction nonetheless. 


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Offshore Report

A quick look around a few early February payout reports show everything is going out within stated timeframes.  Books have been flush with cash with football and Super Bowl this time of year. The more interesting follow will be how they continue to pay out as volume tends to drop drastically this time of year. As always, make sure you do your due diligence before depositing any of your hard earned money into offshore shops. 

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