Louisiana’s sports betting industry experienced a boost in August, with mobile and retail sportsbooks reporting a total handle of $234.5 million, according to data released by the Louisiana Gaming Control Board (LGCB). This marks a 52.3% increase compared to August of last year and a 27.1% rise from July.
Mobile sports betting continues to dominate the market in Louisiana, accounting for 93% of the total handle with $218.2 million wagered through online platforms. This represents a 57.1% year-on-year increase in mobile betting. In contrast, retail sportsbooks brought in $16.3 million, up 8.2% from the same period last year.
Louisiana’s sports betting revenue also saw a strong performance in August, reaching $25.4 million, a 49.5% increase from August 2023 and a 5.9% rise compared to July. Mobile sportsbooks contributed $22.7 million to the total revenue with a hold of 10.4%. Retail sportsbooks, with a higher hold percentage of 16.5%, generated $2.7 million in revenue.
Tax contributions from sports betting saw significant growth as well, with operators paying nearly $3.7 million in taxes in August. This marks a 75.3% increase year-on-year, with $3.4 million coming from mobile operators and $268,342 from retail sportsbooks.
Parlay bets were the most profitable type of wager in August, bringing in $13 million for mobile sportsbooks, which made up 57.2% of their revenue. Retail sportsbooks earned $1.4 million from parlays, accounting for 52.8% of their total profits. Other popular bet types for mobile platforms included “other” bets, which generated $4.5 million, and football, which brought in $2.1 million. Football bets saw the largest month-on-month increase, up 649% as the 2024-25 NFL season approached.
Retail sportsbooks also experienced a surge in football betting, reporting $1.3 million in revenue, an increase of 889.2% from July. Baseball was another popular sport, accounting for $2.05 million in mobile revenue and $308,513 in retail revenue. Basketball saw a drop in revenue, with mobile sportsbooks reporting a 64.3% decline compared to July.
Legal sports betting in Louisiana began in October 2021 with retail sportsbooks and expanded to online platforms in January 2022. Since then, the market has grown to include eight major sportsbooks, including DraftKings, FanDuel, BetMGM, and Caesars, among others.
In addition to sports betting, the LGCB reported total gaming revenue of $192.7 million in August, an increase of 7.6% compared to the previous year. Online sports betting alone accounted for $24.4 million in revenue, up 51% from the same period last year.
The Lake Charles district led in gaming revenue, generating $71.3 million, with L’Auberge Casino Resort contributing $26 million and Golden Nugget Lake Charles earning $25.6 million. The Shreveport/Bossier City district followed with $48.6 million in revenue, marking a 12.4% increase year-on-year. The New Orleans district posted $45.7 million in revenue, while the Baton Rouge district saw a 4.5% rise to $20.6 million.
Evangeline Downs Racetrack & Casino in St. Landry Parish also showed growth, generating $6.2 million in revenue, a 7.6% increase from last year.
Original article: https://www.yogonet.com/international/noticias/2024/09/25/79878-louisiana-mobile-and-retail-sports-betting-handle-hits-2345m-in-august
