Nevada sports books set an all-time record with 8 million wagered on sports in March, with about 70 percent of 2 million bet on basketball attributed to NCAA March Madness.
The $422 million wagered on basketball is the most ever wagered on a single sport in any month in the history of Nevada sports books.
Despite the record handle, the sports books only netted a $9.7 million win, which was down by nearly 48 percent from the March 2015 betting handle. Nevada sports books reported a 2.1 percent hold for the month, down from 4.5 percent a year ago.
While sports books had a profitable March, Baccarat betting continued its downward trend with a $65.7 million win. The win was down 3.5 percent from March 2015, but betting volume was declined by 28.6 percent and $233.9 million from a year earlier.
Gaming analysts said they have no explanation for the steep drop in baccarat wagering. Baccarat wagering has declined in Las Vegas the past couple years as the Chinese government began discouraging its citizens from visiting gaming locales.
Statewide and across all gaming markets, Nevada casinos reported a 3 percent decline in wagering in March, with a combined $922 million win.
