Sports Betting Revenue Record in the US State of Nevada
New sports betting revenue record in the US state of Nevada for 2017 in one calendar year with over $248.8 million revenue
According to the Nevada Gaming Control Board, which is formed to eliminate the unpleasant components in Nevada gaming and to ménage the regulations for the operation of gaming.and the licensing. The Gaming Control Board (“Board”) put in place regulations and rules for the entire tax reports to be submitted to the state by gaming licensees.
However, Nevada Gaming Control Board released figures in 2017 manifest a sports-betting revenue increase of 13.5% with respect to 2016 with a total of $219.2million, and 7% higher than 2015 with the total amount of $231.8million.
The record has also been broken in the total sum of bets on sports events in 2017, increasing 8% from $4.51billion in 2016 to $4.87billion in 2017.
The total amounts for the last three years in Nevada’s sports betting are over 4.5 billion.
Different Reasons for the Remarkable Growth of the Sports Betting Says, Michael Lawton
Michael Lawton, Senior Research Analyst at Nevada Gaming Control Board’s Tax and License declared that there are different reasons for the remarkable growth of the sport betting for the last 8 years in Nevada, stating that:
“There are various reasons that have contributed to the phenomenal growth Nevada’s sports wagering industry has seen over the past eight years. On a macro level, the general health of the sports betting industry in Nevada has never been stronger.
“With major networks mentioning point spreads and ‘bad beats’ on their prime-time shows, national press stories on expanded Super Bowl propositions along with the unique March Madness experience in Las Vegas, the state continues to see more regional and national tourists (visiting both Southern and Northern Nevada) seek out the sports book when they visit properties.”
He also mentioned that the sports betting industry in Nevada has never been stronger.
Nevada is one of the four states in the US with legalized sports betting
Nevada is one of the four states in the US where the sports betting have been legalized and as an authorized state for sports betting can offer it to stakes.
All that could be changed if the Supreme Court decides to judge the Professional and Amateur Sports Participation Act (1992) as illegal. That means 26-year embargo of sports betting in the US will be repealed.