Louisiana Sports Betting Handle Sees Drops in Month of February
LISTEN TO THIS ARTICLE:Sports bettors in the state of Louisiana bet a total of $274.8 million in February, an increase on February 2023’s total but 20.7% lower than January’s handle.
February’s total handle was 39% more than the $197.7 million bet in the same month last year. However, it was significantly below the $346.3 million bet in January 2024, making it the second consecutive month of reduced betting.
Strong Performance from Online Operators
There are a number of online operators active in Louisiana including ESPN Bet, Bet Rovers, BetMGM, Caesars, Betway, DraftKings, FanDuel, PointsBet, bet365 and ClutchBet. bet365 and ClutchBet are the most recent to join the market, having gone live in November 2023 and January 2024, respectively.
In February, $253.1 million of the handle was bet online and the remaining $21.7 million was bet in retail betting shops.
There was total sports betting revenue of $25.1 million, an increase of 30.7% from the $19.2 million in February 2023 but 35.5% down on January’s $38.9 million. The revenue from online sports betting was $24.3 million and revenue from retail betting was $780,013.
This resulted in $3.6 million in tax for the state from online betting and $128,140 in tax from retail betting.
Related: Louisiana Representative Proposes Ban on Sporting Adverts
Year-to-Date Handle Climbs Past $2.2 Billion
Louisiana’s year-to-date handle for the eight months through to the end of February was $2.23 billion.
The period saw bettors wager a total of $2.03 billion online and a further $206.8 million bet at retail sportsbooks across the state. This resulted in revenue of $258 million, of which $235.3 million came from online betting and $22.7 million from retail.
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