Louisiana sports betting revenue reaches record $42m in October

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The Louisiana sports betting market set new records for both handle and revenue during October as the NFL continues to charm bettors. 

Per the Louisiana Gaming Control Board’s latest revenue report, players in the state wagered $311.6m last month, marking an uptick of 21.8% year-over-year. It is also an increase of 11.2% from September’s tally as a full month of NFL fixtures caught the attention of players. 

Handle was broken down into $279.2m in online bets and $32.4m in retail bets. While the former displayed annual growth of 26.1%, retail betting decreased by 11.9% as bettors flock to online platforms. 

Online sportsbooks enjoyed a much stronger-than-average hold rate of 14.1%, while retail sportsbooks also had a strong 10.1% hold rate which, twinned with record handle, helped propel revenue. 

Total state revenue reached $42.5m during October, marking an uptick of 40.3% YoY and an increase of 4.1% from September’s figure of $40.8m.

From online channels, parlay bets generated the largest amount of revenue, with $234.9m made from those types of bets. Per sport, football bets made $7.3m, baseball made $3.3m, basketball yielded $2.1m and soccer made $176k.

On the retail front, parlay bets made $2.4m of the revenue, while football made $250k, baseball made $437k, basketball made $97k and soccer made $13k.