The Louisiana Gaming Control Board has announced handle of $159 million for the state of Louisiana sports betting during the month of June. Given a substantially lower hold percentage for June as well, revenue reported also declined significantly to $11.3 million, a 55.6% decrease month-over-month.
The main cause of the big drop is the absence of American sports events for bettors to place their bets on. In June, no sport exceeded $696,000 in bets (Basketball), while Football only reached $135,000. Analysts believe this will be temporary, and an increase will be seen when the busy sports season returns.
Amidst the doom and gloom, Louisiana does paint a slightly more jovial picture than other states, exhibiting strong year-over-year numbers with wagers up 28% and net reported revenue up 7.5% on the year too.
The following brands are live in the Pelican state, although do not currently report operator specific revenue-breakdown:
- Barstool (with L’Auberge Lake Charles)
- Bet Rivers (with Margaritaville Bossier)
- BetMGM (with Sam’s Town Shreveport)
- Caesars (with Horseshoe Bossier)
- DraftKings (with Golden Nugget Lake Charles)
- FanDuel (with Treasure Chest)
- PointsBet (with Boomtown New Orleans
- WynnBet (with Horseshoe Bossier)
Louisiana is one of the most accomplished states in terms of commercial casino, with a sole landbased casino joining 14 riverboat casinos and 4 racinos to offer various gambling products. Lousiana retail sports betting went live in October 2021, with online joining in 2022.
Per the AGA report, Louisiana’s GGR for the year of 2022 was $2.59 billion with over $600 million contributed to the State through taxes.
Currently the state competes with Oklahoma tribal casinos to bring in players from Texas, where TX online casino remains illegal and unlikely to pass through legislature imminently. Should Oklahoma sports betting become legal too it’s likely that Louisiana will lose some of its current cross-state appeal for bettors.