Louisiana sports handle surges 52% in August
The summer slowdown for sports betting sites in Louisiana seemed to start to turn the corner in August.
The Louisiana Gaming Control Board (LGCB) has published the latest data from the state’s mobile and retail sportsbooks for August, revealing $234.5 million in handle.
The figure represents a 52.3% increase from the $153.9 million wagered last August. On a month-on-month basis, it also marks a 27.1% increase compared to July, which saw $184.5 million in handle.
Louisiana sports betting apps continued to dominate the market, accounting for 93.0% of the total handle at $218.2 million, a 57.1% year-on-year surge. Meanwhile, retail sportsbooks collected the remaining $16.3 million, an 8.2% increase compared to the previous August.
After winnings were paid out, the state saw $25.4 million in sports betting revenue, a 49.5% year-on-year increase and a 5.9% rise from July. With a 10.4% hold, mobile sportsbooks contributed $22.7 million to this total, up 51.2% year-on-year. Retail sportsbooks reported a higher hold percentage of 16.5% and generated nearly $2.7 million in revenue. Residents continued to take advantage of Louisiana sportsbook promos.
Louisiana sports betting sites and retail books paid nearly $3.7 million in taxes last month, up 75.3% from last year and 5.3% month-on-month. Of the total, $3.4 million came from mobile operators, while retail sportsbooks contributed $268,342.