Combined online and retail handle for February was 39.0% ahead of $197.7m in the same month last year. However, it fell short of the $346.3m wagered in January 2024, meaning the Louisiana market shrank for the second consecutive month.
Online betting accounted for $253.1m of all activity in February, with retail wagers reaching $21.7m.
Turning to revenue, for the market as a whole, this amounted to $25.1m. This was 30.7% up from $19.2m in February 2023 but 35.5% short of $38.9m in January.
Revenue from online sports betting totalled $24.3m, with retail’s share at $780,013 for the month.
As for tax, Louisiana generated $3.6m from online wagering and $128,140 retail betting.
Year-to-date handle exceeds $2.20bn in Louisiana
Looking at the state’s year-to-date performance, total handle for the eight months through to the end of February was $2.23bn.
For this period, consumers spent a total of $2.03bn betting on sports online in Louisiana. A further $206.8m was wagered at retail sportsbooks across the Pelican State.
Turning to revenue, the year-to-date total amounted to $258.0m. Online betting accounted for $235.3m of this, with retail revenue at $22.7m.
The current Louisiana online market comprises 10 operators – ESPN Bet, Bet Rovers, BetMGM, Caesars, DraftKings, FanDuel, PointsBet, Betway, Bet365 and ClutchBet are all active in the state.
Bet365 and BlueBet-owned ClutchBet are relative newcomers, launching in November 2023 and January 2024, respectively.
Original article: https://igamingbusiness.com/sports-betting/louisiana-betting-handle-274m-in-february/
