Louisiana online sportsbooks continued to see their handle fall in July, but they did manage to set a new win rate percentage record, beating the previous best set in May.
According to the Louisiana Gaming Control Board, the Pelican State’s seven online sportsbooks – Caesars, Barstool, DraftKings, FanDuel, BetMGM, Bet Rivers, and WynnBet – reported a handle of $103.3m in July, a 9.1% decline on June’s $113.7m.
Although handle fell, revenue improved by 82.1% to $19.2m (June: $10.5m) thanks to a new win rate percentage record of 18.6%, succeeding the aforementioned best set in May of 15.9%.
With a 15% tax rate on online sports betting revenue, Louisiana online sportsbooks generated $2.31m in taxes for the state during July (June: $1.35m).
Louisiana’s 15 retail sportsbooks achieved a handle of $14.9m in July, a 19.8% drop on the previous month’s $18.7m.
Retail revenue bounced back during the month to $1.39m after a significant fall in June ($149,244) with a win rate percentage of 9.3%.
With a retail sports betting revenue tax rate of 10%, the Pelican State’s retail sportsbooks yielded $134,256 to state coffers (June: $66,792).
Combining the online and retail results, Louisiana’s sportsbooks recorded a handle of $118.2, revenues of $20.59m, and paid $2.44m in state taxes.
Per sport online, baseball revenue led the way with $5.11m, followed by basketball with $507,374, soccer with $451,864, and football with $362,775. Parlay betting recorded $11.89m in revenue during the month, while the state’s other category reported $881,864.
For retail sports betting, baseball was top as well with $550,147, followed by football with $62,408, soccer with $23,023, and basketball suffered a loss of $350,653. Parlay betting achieved $999,920 in revenue, while the state’s other category reported $115,100.
