Louisiana Sports Betting Industry Smashes Records in December
LISTEN TO THIS ARTICLE:In December, Louisiana saw a record sports betting handle for the third consecutive month. Gamblers in the state wagered a total of $377 million on sports. This not only exceeded the previous record set in November by 5.7% but was also up 48% compared to December 2022. The majority, $344.9 million, was bet online, and $32.1 million was bet at retail sportsbooks.
Revenue Continues to Grow
The revenue generated from sports betting in Louisiana also hit new heights in December, hitting $55.8 million. This figure exceeded the $43.3 million record set in October 2023 by 28.9%.
The total revenue in December was up 50.8% compared to the same period in the previous year and a huge increase of 187.6% from November. Online sports betting contributed $51.3 million to revenue after accounting for promotional deductions, while retail sports betting accounted for $4.5 million. Tax revenue from these activities totaled $7.6 million, with the bulk coming from online betting.
Online Sports Betting Continues to Thrive
Looking at the figures from a broader perspective, the total handle for the six months leading up to the end of December reached $1.60 billion. This was mainly driven by online bets totaling $1.45 billion and complemented by $156.6 million in retail wagers. The combined revenue from both online and retail betting amounted to $194.2 million, with $175.5 million stemming from online activities.
Louisiana’s online sports betting scene is flourishing with nine operators, including well-known names such as ESPN Bet, Bet Rovers, and bet365. Notably, bet365 expanded its presence in the state through a partnership with Boyd Gaming’s Amelia Belle, marking its launch in Louisiana in November 2023.
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