The sports betting handle in Louisiana reached $274.8Million during the month of February – dropping by 20.7% since January.
Sports Betting Handle In Louisiana
Players placed $274.8m on sports bets during February, which was a 39% increases from the $197.7m in the same month in 2023.
Despite the increase from 2023, the overall handle has seen a drop since January 2024, which reached $364.3m – meaning the market within the state has dropped for two straight months.
Both online and retail bets are used when calculating the final handle, with £253.1m coming through the online method and $21.7m being placed in physical kiosks.
When looking at revenue specifically, in the whole market the revenue sat at $25.1, and had increased by 30.7% when compared to February 2023 but 35.5% less than January 2024.
Turning to revenue, for the market as a whole, this amounted to $25.1m. This was 30.7% up from $19.2m in February 2023 but 35.5% short of $38.9m in January.
Online sports betting continues to bring a large amount of revenue and it hit $24.3m during February – with retail bets sitting at $780,013.
Another section that has to be considered is the tax from betting in Louisiana, reaching $3.6m via online wagers and $128,140 in retail bets.
When highlighting Louisiana’s year-to-date statistics, the state have made $2.23Billion during eight months – ending at the culmination of February.
Betting enthusiasts in the state spent $2.03bn through online sports betting and an extra $206.8m was placed at a variety of physical sportsbooks.
Across these eight months, Louisiana made $258m in revenue – $235m through online and $22.7m came in the form of physical bets.
Louisiana has 10 operators for the online betting industry, which are ESPN Bet, PointsBet, Bet Rovers, Caesars, DraftKings, FanDuel, Betway, BetMGM, Bet365 and ClutchBet.
Eight of the operators have been around for an extended period of time, but ClutchBet and Bet365 are the newest additions – with the former joining in January 2024 and the latter opening up in November 2023.
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