First Month Breakdown For Louisiana Sports Betting Revenue

It has been over a month since in-person sports betting began in Louisiana. A total of eight brick-and-mortar casinos began accepting sports wagers in November, and nine are now open to in-person wagering.

Four casinos were open for practically the entire month, while four others (Margaritaville Resort Casino, Boomtown Bossier City, Golden Nugget Hotel & Casino Lake Charles, and L’Auberge Lake Charles) opened later in the month and saw just a few weeks of wagering.

Also Read: Breaking Down Each Louisiana Mobile Sportsbook Bonus Offer

The Numbers Are In

According to the latest information from the Louisiana Gaming Control Board (LGCB), Louisiana sports bettors placed more than $27 million in wagers in the first month of retail betting. In total, the eight Louisiana casinos raked in more than $5.6 million in revenue.

That created a healthy hold of 20.6% for the sportsbook operators. Louisiana taxes those proceeds at 10%, so the state collected nearly $570,000 in taxes on those profits. The generated tax revenue is divided up in different ways, with 25% of the revenue going toward early education funding.

Football was the sport that saw the most bets. Specifically, Bayou bettors flocked to back their hometown team the New Orleans Saints. Nearly $1.6 million of the revenue generated came from wagers on the Saints.

In addition, parlays made up a significant portion of the revenue. Revenue from parlays totaled nearly $3.7 million, which was just shy of 65% of the total revenue generated for the month.

Also Read: 5 Tips For Downloading Louisiana Mobile Sports Betting Apps

Handle Increase Expected When Mobile Betting Arrives

A $27 million handle is certainly substantial for the first month of in-person betting, but that number is expected to increase once mobile sports betting is launched in the state. Ronnie Johns, chairman of the Louisiana Gaming Control Board, told Louisiana Sharp that he expects mobile sports betting to launch in Louisiana in the first weeks of January 2022.

Mobile betting gives bettors more flexibility than retail betting and allows users to place bets from the comfort of their own homes. This gives bettors easier access to sportsbooks, and will likely cause an increase in betting numbers across the board.

Retail betting will still be available for those who prefer to place their bets in person.

A number of mobile sportsbook operators have already set up shop in the Pelican State, and users can create their accounts today. Bonus and promotional offers are available to new users.

About the Author

Connor Grootenhuis

Connor Grootenhuis is a Content Manager and sportswriter covering all things sports betting. Based in the Bayou State of Louisiana, he is a lifelong sports fan and a believer that every loss is a bad beat and every win is easy money.