Data from the Louisiana Gaming Control Board has revealed that the state’s online sportsbooks saw their revenue jump significantly in March, despite the slight drop in handle.
The Pelican State’s online sportsbooks saw $205.7m in wagers during the month, down on the previous month’s $211m.
Revenue was up in March from February’s $16.7m to a new record of $28.4m. However, it is also only Louisiana’s second full month of online sports betting following the market launching at the end of January. Online sportsbooks achieved a win percentage of 13.8% (February: 7.9%), generating $3.19m in taxes for the state (February: $2.28m).
For the Pelican State’s retail sportsbooks, March’s handle only underwent a slight drop compared to the previous month to $26.98m (February $27.4m), revenue hit $1.72m (February: $642,663) with a win percentage of 6.4% (February 2.3%), yielding $227,621 for the state in taxes (February: $140,187).
Combining online and retail, Louisiana’s March figures come to $232.7m (February: $238.4m), revenue stood at $30.1m (February $17.3m), with $3.4m paid to the state in taxes (February: $2.42m).
With the NCAA March Madness basketball tournament taking place, basketball was the most popular sport to wager on amongst online bettors, delivering the most revenue during the month with $12.8m (February $5.0m). Soccer followed with $467,735 (February: $248,383 loss), then baseball with $173,131 in revenue (February: $183,084).
Meanwhile, football saw the biggest drop, falling to $111,678 (February: $9.83m), but this drop was expected due to the end of the NFL and college football seasons. Parlay betting saw revenues of $13.57m (February: $4.42m).
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 March with $133,540, but it was down on the previous month’s $492,568. Basketball was followed by baseball with $41,591 (February: $9,493), soccer with $20,903 (February: $46,740), while football had another revenue loss of $300,093 (February: $696,314 loss).
Parlay betting revenues at Louisiana’s retail sportsbooks reached $1.76m during the month (February: $647,128). The state has 15 retail sportsbook venues.