Louisiana’s online sportsbooks continued to see their monthly handle drop in May due to the decreased sports calendar. Still, revenue almost returned to March levels during the month following a substantial win percentage.
Data from the Louisiana Gaming Control Board has revealed that the Pelican State’s online sportsbooks reported a handle of $142.6m in May, a 23.3% drop compared to April’s online handle of $186m.
Despite the low wagering total, online revenue improved compared to the previous month to $22.6m (April: $3.27m) thanks to a record-breaking win rate percentage of 15.9%. The state’s previous best win percentage of 13.8% was achieved in March.
With a 15% tax rate on online sports betting revenue, Louisiana online sportsbooks generated $2.46m in taxes for the state during May (April: $2.37m).
Online sports betting launched in Louisiana on January 28. The state’s gaming control board notes that seven mobile sportsbooks are currently operational with casinos in the state – Caesars, Barstool, DraftKings, FanDuel, BetMGM, Bet Rivers, and WynnBet.
Louisiana’s 15 retail sportsbooks stayed roughly at the same numbers as the previous month, reporting a handle of $28.5m (April: $22.2m). Revenues hit $2.7m (April: $2.33m) following a win percentage of 9.4% (April 10.5%).
With a retail sports betting revenue tax rate of 10%, Louisiana’s retail sportsbooks yielded $268,209 to state coffers in May (April: $202,726).
Combining online and retail, the Pelican State’s sportsbooks in April generated $171.1m in handle (April: $208.3m), revenue came in at $25.3m (April: $5.61m), with $2.7m paid to the state in taxes.
Per sport, baseball revenue led the way with $5.7m (April: $1.3m), followed by basketball with $4.73m (April: $12.46m loss), football with $331,777 (April: $14,802), and soccer with $126,440 (April: $471,998). Parlay betting achieved a revenue of $10.9m (April: $13.5m).
For retail sports betting, basketball produced the most revenue in May with $401,675 (April: $571,543), followed by baseball with $248,587 (April: $311,983), soccer with $25,090 (April: $17,407), while football had a revenue loss of $9,638 (April: $5,206). Parlay betting saw a revenue of $1.49m (April: $1.29m).