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Las Vegas Sports Betting

If you are a fan of sports betting you will LOVE Las Vegas. Being the only state in the union that allows legal betting on all of the major individual sports leagues and events, Las Vegas draws thousands of sports bettors year round. Almost all Las Vegas casinos feature a sportsbook and a number of big screen TVs which creates a great sports betting environment.

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Vegas SportsbookAlthough sports betting has one of the lower win percentages for casinos, it still draws millions in revenue for Vegas casinos year round. The most popular sports betting event in Las Vegas is by far the Super Bowl, which draws thousands of sports bettors each February to bet on the big game. Not far behind the Super Bowl is the March Madness college basketball tournament which also draws some big numbers to Vegas to bet on the event.

With the popularity of online sportsbooks increasing there is no doubt that the Las Vegas sportsbooks are losing a little bit of business, but they are always going to bring in some great numbers for casinos. I do my sports betting online daily of course, but I love making a trip down to Vegas to bet on some sports and have some fun, and I know a lot of sports bettors are the same.

Las Vegas Sports Betting Revenue

Below are the numbers that Las Vegas casinos made in revenue from sports betting in 2009:

Overall

Total Amount Bet – $2.4 Billion
Total Casino Win (revenue) – $136.3 Million
Win Percentage (percent of money played that casino kept) – 5.31%

Football

Total Amount Bet – $1.0 Billion
Total Casino Win – $48.6 Million
Win Percentage – 4.45%

Basketball

Total Amount Bet – $802.5 Million
Total Casino Win – $38.2 Million
Win Percentage – 4.76%

Baseball

Total Amount Bet – $488.5 Million
Total Casino Win – $21.4 Million
Win Percentage – 4.38%

Parlay Cards

Total Amount Bet – $58.9 Million
Total Casino Win – $19.2 Million
Win Percentage – 32.57%

Other

Total Amount Bet – $126.0 Million
Total Casino Win – $8.8 Million
Win Percentage – 6.98%

Sportsbooks are huge for Vegas casinos, bringing in $136.3 Million in 2009. The only games which brought in more money were 3 card poker, roulette, craps, baccarat, blackjack, and slot machines. It seems as bettors do well with sports betting as the casino only has a 5.31% win percentage, compared to 11.31% for blackjack, and 12.04% for all table games.

Some Other Revenue Numbers:

From 1984 to 2011 Nevada has done pretty well for themselves…

  • Total amount bet on sports in Nevada since 1984: $57,274,051,000 ($57.3 billion)
  • Total amount won by Nevada sports books since 1984: $2,613,725,000 ($2.6 billion)

Since 1992 baseball betting has been the most profitable for bettors…

  • Average win percentage on football since 1992: 4.53%
  • Average win percentage on basketball since 1992: 4.69%
  • Average win percentage on baseball since 1992: 3.01%
  • Average win percentage on parlays since 1992: 29.71%
  • Average win percentage on “other” since 1992: 5.48%

Las Vegas rarely has a losing month when it comes to football, but it does happen.  Here is a list of some losing regular season football months for Nevada sports books:

  • November 2012: -$5.29 million
  • October 2012: -$6.23 million
  • November 2010: -$2.48 million
  • December 2005: -$3.31 million
  • November 2005: -$11.28 million

How To Read Las Vegas Odds Boards

Las Vegas Sportsbooks

• Aria
• Arizona Charlie’s Decatur
• Arizona Charlie’s Boulder
Bally’s
• Barley’s
• Bellagio
• Bill’s Gamblin’ Hall and Saloon
• Boulder Station
• Buffalo Bill’s
Caesars Palace
• California
• Casino MonteLago
• Circus Circus
• Ellis Island
• Excalibur
• Fiesta Rancho
• Fiesta Henderson
• Fitzgeralds
Flamingo
• Fremont
• Gold Coast
• Golden Gate
• Golden Nugget
• Green Valley Ranch
• Hard Rock Hotel Casino
• Harrah’s
• Las Vegas Hilton
• Hooters
• Imperial Palace
• Luxor
• M Resort
Mandalay Bay
• MGM Grand
Mirage
• Monte Carlo
• New York-New York
• Orleans
• Palace Station
• Palazzo
• Palms
Paris
• Planet Hollywood
• Plaza
• Primm Valley
• Railroad Pass
• Red Rock Resort
• The Rampart Casino
• Rio
• Riviera
• Sahara
• Sam’s Town
• Santa Fe Station
• Silverton
• Skyline
• South Point
• Stratosphere
• Suncoast
• Sunset Station
• Texas Station
Treasure Island
• Tropicana
• Venetian
• Wild Wild West
• Wynn

Resources:
David G. Schwartz. Nevada Sports Betting Totals: 1984-2011. Las Vegas: Center for Gaming
Research, University Libraries, University of Nevada Las Vegas, 2012.