Louisiana mobile betting generates $211m handle in February

The Bayou State received a major boost from its nascent mobile sports betting market in February, according to the latest revenue figures published by the Louisiana Gaming Control Board.

The state reported a solid $238.4 million in bets for the month, an increase of 165.8% from the $89.7 million in January. Mobile customers accounted for about 88.5% or $211 million of the handle, up from $40.5 million in January.

The retail sector, on the other hand, saw a massive drop in handle as the monthly figures fell from $49.3 million in January to $27.4 million in February. The figure represents a 44.4% decline month-on-month.

Louisiana rolled out statewide mobile sportsbooks on January 28, which means that February was the first full month of online sports wagering. The retail industry launched on October 31.

LA sportsbooks report $17.3m in revenue for February

The LGCB report shows that the taxable revenue generated by Louisiana sports betting operators during the month of February was $17.3 million, which translates to 7.3% in hold percentage. In January, the state posted -$3.67 million in adjusted gross revenue after deducting the amount spent by licensees on promotions.

96.5% or $16.7 million of February’s revenue came from mobile bettors, while the 13 retail locations offering in-person betting accounted for $642,663.

A breakdown of the hold by sport shows that operators made a killing from football betting as the market brought in $9.1 million in revenue for the sportsbooks. Basketball was the second most profitable market at $5.6 million, while parlay betting generated $5.1 million in wins for licensees.

Operators won a combined $192,577 of the bets placed on baseball for the month but lost $201,643 to soccer fans. The combined hold for all other sports was $1.5 million.

The overall tax revenue generated by the industry in February was $2.4 million, with $2.2 million coming from the online market. Louisiana taxes sportsbooks at the rate of 10% for retail locations and 15% for mobile licensees.

Which sportsbooks are active in Louisiana?

Louisiana legalized sports betting in June 2021, paving the way for 20 commercial casinos and the state lottery to operate both retail and online sportsbooks. The activity is, however, limited to the 55 parishes that voted in favor of legalizing the market in November 2020. Each of the 20 eligible casinos and racinos can deploy up to two mobile skins, while the Louisiana Lottery is allowed one online sportsbook app.

The state launched commercial retail sportsbooks on October 1, with mobile betting following nearly three months later. The first group of authorized online operators began taking bets in the jurisdiction on January 28.

Since the onset of retail sports wagering, the Louisiana Gaming Control Board has cleared 13 commercial casinos and racinos for operations.

Here is a list of venues offering in-person betting in LA and their sportsbook partners:

• Amelia Belle Casino in Amelia – FanDuel
• Boomtown Casino Hotel Bossier City – Barstool
• Boomtown Casino & Hotel New Orleans – Barstool
• Delta Downs Racetrack in Vinton – FanDuel
• Evangeline Downs Racetrack & Casino – FanDuel
• Golden Nugget Lake Charles – DraftKings
• Harrah’s New Orleans – Caesars
• L’Auberge Baton Rouge – Barstool
• L’Auberge Lake Charles – Barstool
• Margaritaville Bossier City – Barstool
• Horseshoe Bossier City – Caesars
• Sam’s Town Casino Shreveport – FanDuel
• Treasure Chest Casino in Kenner – FanDuel

The venues that are yet to receive their permits from the regulator are Belle of Baton Rouge and Hollywood Casino in Baton Rouge, Bally’s Casino in Shreveport, Harrah’s Louisiana Downs in Bossier City, Isle of Capri in Lake Charles, and the Churchill Downs owned Fair Grounds Race Course in New Orleans.

In addition to these commercial casinos, two tribal gaming facilities – Coushatta Casino Resort and Paragon casino – also offer in-person betting. The Betfred Sportsbook at Paragon Casino was LA’s first retail sports wagering venue when it opened on October 5.

When it comes to mobile betting, bettors in the Bayou State have access to seven digital sportsbook brands currently, with more expected to join the market in the near future. The active apps in the state include DraftKings, BetMGM, FanDuel, Barstool, BetRivers, Caesars, and WynnBet.

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