Nevada Tops for Per-Capita Sports Betting

Posted on: December 30, 2024, 03:47h. 

Last updated on: December 30, 2024, 03:47h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

In the post- Professional and Amateur Sports Protection Act (PASPA) era, Nevada has ceded its crown as the king of the US sports wagering market, but it still leads in one category: per-capita sports betting.

Circa contests
Circa Sportsbook in downtown Las Vegas. Nevada is the US leader in terms of per-capita sports betting. (Image: Las Vegas Weekly)

A recent study by Gamdom Casino, a French cryptocurrency casino operator, indicated that this year, the average Nevada will place $1,815 worth of sports bets, or nearly triple the national average. On that basis, the Silver State is well ahead of New Jersey ($1,398) and New York ($1,087).

This data demonstrates just that, and it’s certainly interesting to see which among those states are embracing it the most,” said Felix Romer, founder of Gamdom, in a statement provided to The Las Vegas Review-Journal. “The figures are generally quite astounding in their scale. The amount of money wagered in the top few states is certainly a shocking statistic when compared to the average American state where sports betting is legal.”

Currently, some form of sports betting is operational in 38 states and Washington, DC with Missouri slated to join that group next year. Prior to 2018 Supreme Court ruling on PAPSA, Nevada was the unrivaled mecca of the US sports betting universe.

Nevada Per-Capita Statistic Impressive

In terms of sports betting revenue, Nevada ranks fifth behind New York, New Jersey, Illinois and Pennsylvania. By handle, the state that’s home to the most casinos ranks third behind New Jersey and New York.

Still, Nevada’s status as the leader in per-capita sports betting is impressive for multiple person. First, the state requires in-person visits to casinos to sign-up for mobile betting accounts. That’s burdensome and it’s policy experts believe is costing the state money.

Second, by virtue of the requirement that sportsbook operators have ties casinos located in the state, FanDuel and DraftKings — the two largest sportsbook companies — don’t do business in Nevada. Should Nevada loosen the in-person registration mandate and if FanDuel and DraftKings eventually enter the state, it’s possible the state’s sports wagering and handle and revenue will grow.

At the moment, there’s no movement among Nevada politicians and regulators to do away with in-person registration requirement.

Other Sports Betting Per-Capita Stalwarts

After Nevada, New Jersey, and New York, Massachusetts ranks fourth in terms of per-capita sports betting. Arizona, a state that’s viewed as a credible threat to pass Nevada in revenue terms, ranks fifth. Maryland and Illinois are sixth and seventh, respectively, with Colorado, Kansas, and Iowa rounding out the top ten.

Interestingly, Pennsylvania, which is a behemoth in handle and revenue terms, ranks just 19th on a per-capita basis with an average of $484 in annual sports wagers placed by bettors in the state.

At the bottom is South Dakota, which has an annual per-capita sports betting spend of just $7.63, according to Gamdom. That could be the result of the state allowing sports betting only at tribal casinos and at gaming venues in Deadwood.