Nevada Sportsbooks Suffer Rare Loss in December Football Betting
Nevada sportsbooks experienced a rare December setback, losing a net $2.1 million on football bets during the NFL regular season. This marks the frist monthly loss for Nevada bookmakers during the NFL regular season in 12 years and the largest net loss since November 2012.
Both favorites and the point spread played a significant role in the losses. Favorites won 76.7% of games outright in december, the highest percentage as 2005 and the fourth-highest in the Super Bowl era. Moreover, favorites covered the spread in 59% of games, the fifth-best mark in the Super Bowl era. This trend of favorite dominance was evident throughout the season, with FanDuel’s parent company, Flutter, reporting “unfavorable US sports results,” notably in NFL parlays, leading to a downward revision of their revenue guidance.
While football betting proved unprofitable for Nevada sportsbooks in December, their overall winnings for the month reached a net $15.0 million, primarily driven by triumphant basketball bets. This December downturn followed a record-breaking September, where nevada sportsbooks won a net $80.9 million, making it the most profitable month in state history.
Despite the challenging regular season, sportsbooks are gearing up for the Super Bowl, the pinnacle of single-game betting in the US. Projections by Eilers & Krejcik Gaming estimate that U.S. sportsbooks will handle $1.5 billion in Super Bowl bets, reflecting a 20% increase from the previous year.
**Q: What percentage of NFL games in December were won by favorites, and how does this compare to historical trends?**
Nevada Sportsbooks Suffer Rare Loss in December Football Betting
Nevada sportsbooks experienced a rare December setback, losing a net $2.1 million on football bets during the NFL regular season. This marks the frist monthly loss for Nevada bookmakers during the NFL regular season in 12 years and the largest net loss as November 2012.
Both favorites and the point spread played a significant role in the losses. favorites won 76.7% of games outright in december, the highest percentage as 2005 and the fourth-highest in the Super Bowl era. Moreover, favorites covered the spread in 59% of games, the fifth-best mark in the Super Bowl era. This trend of favorite dominance was evident throughout the season, with fanduel’s parent company, Flutter, reporting ”unfavorable US sports results,” notably in NFL parlays, leading to a downward revision of their revenue guidance.
While football betting proved unprofitable for Nevada sportsbooks in December, their overall winnings for the month reached a net $15.0 million,primarily driven by triumphant basketball bets. This December downturn followed a record-breaking September, where nevada sportsbooks won a net $80.9 million, making it the most profitable month in state history.
Despite the challenging regular season, sportsbooks are gearing up for the Super Bowl, the pinnacle of single-game betting in the US. Projections by Eilers & Krejcik Gaming estimate that U.S.sportsbooks will handle $1.5 billion in Super Bowl bets, reflecting a 20% increase from the previous year.
Q&A
**Q: Why did Nevada sportsbooks lose money on football bets in December?**
**A:** A surprising number of favorites covered the spread, leading to losses for the sportsbooks.
**Q: Has this happened before?**
**A:** Not recently! This was Nevada’s first December loss during the NFL regular season in 12 years.
**Q: Did sportsbooks make money overall in December?**
**A:** Yes, thanks to successful basketball bets, Nevada sportsbooks still netted $15 million in December.
**Q: what’s on the horizon for sports betting?**
**A:** The Super Bowl is coming up, and projections suggest a record-breaking $1.5 billion in bets will be placed!
Wont to get in on the action? Remember to bet responsibly and enjoy the thrill of the game!
