Nevada Casinos Win Big With $11.1 Billion Jackpot In 2013
Nevada casinos did very well in 2013 due largely to lady luck and high rollers playing Baccarat. The statewide win was up 2.6% over 2012 and for the first time since 2008 gambling revenues topped $11 billion according to Mike Lawton of the Gaming Board.
Overall Nevada casinos won $11.1 billion in 2013 which impressive but is still below the record $12.8 billion in 2007. These positive numbers can be largely attributed to baccarat where $11.8 billion was wagered. Here the casino were lucky as the casinos won 13.5% of the time which is the highest since 2003. The casinos won over $1.6 billion on baccarat. In fact if the baccarat revenues were factored out statewide wins would only be up 0.6%.
Nevada is currently heavily dependent on baccarat and it accounted for 14% of the total statewide win. This is marked difference from the 4% stake a decade ago. Gambling revenues on the Las Vegas Strip climbed 4.8% from 2012 to reach $6.5 billion which makes up for 58% of the statewide total.
Sport betting performed very well with record revenues of $202.8 million, an increase of 19%. Football was the star performer with over $1.6 billion wagered in 2013 and $80.8 million won. December winnings rose 9.6% from the previous year to reach $1 billion.