Nevada Sportsbooks Earned $18.7 Million from Super Bowl

6.02.2020, 17:31

This year’s Super Bowl has been highly profitable for Nevada unlike, for example, the New Jersey sportsbooks who didn’t do so well. Sports business analyst Darren Rovell says that sportsbooks earned $18.7 million last Sunday when the Super Bowl ended.

The Second Highest Percentage in the Last 10 years

Nevada’s hold percentage is 12.1% which is the second-highest in the last ten years after 2014 and 16.5%. Sports betting is a highly lucrative industry and this is the reason it should get legalized all over the country. The tax revenue from sports betting could further enhance all economies. Since the lift of the federal ban on sports betting in 2018, some 20 states have legalized some sort of sports betting and more are venturing every day. It makes sense considering the fact that one-day revenue for sportsbooks is $18.7 million.

Many urge for sports betting to get legalized all over the country and imply that the restriction of sports betting or even gambling doesn’t go well with the term “the land of the free”. Looking at Nevada, it becomes clear that legalized gambling can benefit the state by a lot.

Legal in almost half of the states

Sports betting is legalized in almost 50% of the states in the United States of America with a lot of states now trying to push new laws and legalize it. The emergence of an online market has lifted sports betting to higher realms since it is possible to bet from wherever any time a person wants. Additionally, the sheer amount of available sports and leagues boggles the mind. It will be interesting to see how the future of sports betting unravels in the United States of America and worldwide.