The figure was the highest monthly total since Louisiana launched legal retail wagering on October 31 last year, with the January amount 24.8% higher than $39.5m in December and 78.6% more than $27.6m in November.
Revenue from retail sports betting in January amounted to $5.3m, which was 29.3% up from $4.1m in December, but 7.0% lower than $5.7m in November.
Football betting generated $1.5m in revenue during the month, while basketball revenue hit $313,941. Parlay betting was responsible for $3.5m of all revenue for January.
Figures published by the Louisiana Gaming Control Board also showed tax from retail sports betting in January amounted to $533,289.
Legal retail betting began in October of last year when Betfred Sports rolled out in-person wagering in partnership with Paragon Casino Resort, while Caesars followed soon after, launching retail betting at its Harrah’s New Orleans and Horseshoe Bossier City Hotel & Casino properties.
Last month, the state also opened its legal online sports betting market, with a number of operators having been cleared to launch.
Sports wagering was legalised in Louisiana in November 2020 following a parish-by-parish referendum, but the market’s launch was delayed to 2021 due to Louisiana only permitting the passing of a new tax in an odd-numbered year.
Penn National Gaming and its Barstool Sportsbook, Caesars, DraftKings, Rush Street Interactive and its BetRivers Sportsbook, and Flutter Entertainment-owned FanDuel Group in partnership with Boyd Gaming have all since launched in the state.
Original article: https://igamingbusiness.com/louisiana-retail-betting-handle-reaches-49-3m-in-january/
