I may have written this before, but it always astounds me when I see that sports betting is only 1% of the revenue in the Las Vegas casinos. Yesterday’s article on American Wagering being purchased just reconfirmed this info.
Although sports betting accounted for only 1 percent of Nevada’s gambling revenue last year, it has increased by about 10 percent in the past decade and has held up in the recession. Although sports betting revenue accounted for about 1 percent of all the money gamblers lost to Nevada casinos last year, that revenue rose by 22 percent from 2000 through 2010. Including horse racing, sports revenue rose 10 percent over that period.
I love to bet on sports and I’m happy to be able to do it legally but when looking at the type of betting, it’s important to keep in mind that it’s such a small piece of the pie. It’s nice to see revenues are on the rise. Hopefully that makes sports betters treated better.