Nevada sportsbooks see wagers drop 76 percent as part of a national lull in sports betting due to COVID-19

This is normally one of the most profitable times of the year for sportsbooks

In the wake of the coronavirus pandemic, sports have come to a screeching halt, and sportsbooks have been especially hit hard by COVID-19 because there simply aren't nearly as many wagers being placed. It's no surprise that Nevada has been feeling the brunt of this, and  According to revenue numbers from Nevada Gaming Control, sportsbooks in the state saw their March numbers drop 76 percent compared to what they usually are this time of year.

Only $141.2 million was bet at Nevada sportsbooks during the month of March. That's the smallest amount money wagered since 1993 and Nevada sportsbooks only had a net win of $1.45 million this March. In March 2019, a record, $596.7 million was bet at Nevada sportsbooks. 

In addition, an estimated 67 percent of Nevada's wagers were placed online.

March is usually a very busy time for sportsbooks because the NCAA men's basketball tournament is going on. In addition, there are MLB, NBA, and NHL games going on.

Much like Nevada, many other states have seen their recent numbers drop in the wake of the coronavirus pandemic. 

New Jersey is one of the states that has been heavily affected by sportsbooks and casinos being forced to close. According to the Associated Press, the state's betting revenue dropped to $163 million during the month of March, which is down 44 percent from their 2019 numbers.

All nine of Atlantic City's casinos had severe revenue losses of 46 percent or larger. It was the largest monthly decline that Atlantic City has seen in the 42 years that gambling has been legalized. The numbers even surpassed the 28 percent loss that the city took in November of 2012, when Hurricane Sandy hit the state and forced casinos to be closed for nine days. In addition, sportsbooks saw their numbers drop by 58 percent to around $13 million as most of the gambling during the month was done online.

Much like Nevada, casinos in New Jersey were forced to close down their operations in March, which is when most of the other ones around the country closed. However, the sportsbooks numbers do reflect action from NBA, NHL, college basketball, and even the now-defunct XFL -- bettors had the chance to gamble on all of those leagues for the first two weeks of the month.

In addition, casinos in Indiana only made $98 million in revenue, which is down almost 55 percent from their 2019 numbers. Maryland casinos won almost $69 million, which is a 58 percent decline from last year, while Michigan took home just $57.4 million -- a 59 percent decline from a year ago.

It's quite possible that Nevada could see an all-time low for the amount of money bet during the month of April. In March, sportsbooks had nearly two weeks of wagers before professional sports closed up shop. In April, there just hasn't been much to bet on aside from international sports like soccer and table tennis.