The sports betting markets in New Jersey and Nevada to record a combined aggregate handle last month of well over $1 billion. October represented the first time since last year’s repeal of the Professional and Amateur Sports Protection Act (PASPA) that the two states’ collective handle had exceeded the hallowed billion-dollar milestone with the figure going a long way to dispel increased competition concerns.
October sports betting handle in Nevada had increased by 2.9% year-on-year to reach $543.9 million while associated revenues swelled by some 62.1% to hit $47.9 million.
New Jersey was purportedly not far behind as combined wagers from its sportsbooks surged by a comparative 87.2% last month to attain an all-time record of $487.9 million.
Revenues from gridiron football wagers in Nevada had exceeded $26.1 million last month courtesy of a hold percentage of 7.36%. By contrast, baseball purportedly managed to bring in $11.4 million in ‘The Silver State’ with an even larger 13.83% hold while the associated tally for basketball reached slightly over $3.5 million off of a hold of 9.8%
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