College football season cancellation could mean major losses for Nevada sportsbooks

In 2019, sportsbooks in Nevada took in $1.87 billion in wagers on football, via the NFL and college combined. This was a new record, something will that most likely not take place in 2020. The state won a record $122.4 million last year from the two seasons, also something that will most likely not take place this year. Sportsbooks in the state are now worried that college football will be cancelled, which would cut their earnings basically in half. College conferences are still considering what to do as the coronavirus continues to sweep across the US, affecting all age groups.

Postponing the Season:

On Monday, The Mountain West decided to postpone the fall season due to the pandemic, the second conference in the Football Bowl Subdivision to make this decision. The hope is that football can return in the spring.

Over the weekend, the Mid-American Conference decided to postpone its fall season. Now, the question is if the games will just be postponed or if they will end up being cancelled. If a cancellation is coming, the sportsbooks in Nevada will take a huge hit, to the tune of around $50 million. The state’s Gaming Control Board does not separate college and NFL wagering but according to the numbers, college football takes up around 40% of the bets the fall.

Earlier this year, March Madness was cancelled, and sportsbooks were unable to earn the millions in sports betting revenues they are accustomed to from the popular NCAA tournament series.

As of right now, it seems everything is up in the air. Traditionally, the NCAA will begin its season in late August into September. A decision will need to be made soon as to what is going to happen, be it to go ahead with the season, cancel or postpone games.