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 reason for the large decline is the lack of American sporting fixtures for punters to wager on. In the month of June, no single sport took over $696,000 (Basketball), with Football sitting at just $135,000. This, analysts hope, will be strictly cyclical and an uptick will b0e observed with the resumption of a busy sporting calendar.
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.