Data from the Louisiana Gaming Control Board has revealed the state’s online sportsbooks took a handle of over $211m in February, its first full month of legal online sports betting.
From the over $211m in February online wagers, the Pelican State’s online sportsbooks won $16.65m, with a win percentage of 7.9%, generating $2.28m in taxes for the state.
Meanwhile, Louisiana’s retail sportsbooks took only $27.4m in February handle, a fraction of the record-breaking $49.3m in wagers the state took in January.
With more people wagering online, retail sports betting suffered, only taking $642,663 in revenue (January: $5.3m), a win percentage of 2.3% (January: 10.8%), yielding only $140,187 in taxes for the state.
Combining online and retail, Louisiana’s total handle was $238.4m, revenue stood at $17.3m, with $2.42m paid to the state in taxes.
Football delivered the most revenue for online sportsbooks during February with $9.83m, followed by basketball with $5.08m, baseball with $183,084, and a revenue loss in soccer of $248,383. Parlay betting saw $4.42m in revenue.
Online sports betting launched in Louisiana on January 28. The state’s gaming control board notes that seven mobile sportsbooks are currently operational in Louisiana – Caesars, Barstool, DraftKings, FanDuel, BetMGM, Bet Rivers, and WynnBet.
For retail sportsbooks, basketball provided the most revenue in February with $492,568 (January: $318,847), followed by soccer with $46,740 (January: $9,998 loss), baseball with $9,493 (January: $3,943), and a revenue loss in football of $696,314 (January: $1.5m).
Parlay betting saw $647,128 in revenue during the month for retail sportsbooks, a significant drop from the previous month’s $3.5m.