Louisiana mobile sportsbooks net $211m in bets during opening month

Louisiana’s mobile sportsbook operators took $211m in wagers from bettors during the first full month of betting in the Pelican State, the Louisiana Gaming Control Board (LGCB) has confirmed.

Releasing its February revenue report, the LGCB reported total mobile sportsbook revenue of $16.7m from the state’s online operators, who went live in Louisiana on January 28.

However, this total includes $11.6m in promotional bets, meaning that opening month mobile sportsbook revenues amounted to just $2.6m in February.

Bets placed on football made up the lion’s share of February’s total, accounting for $9.8m of total revenue, just ahead of basketball betting which generated $5.1m in revenue, and parlay betting which amounted to just $4.4m in February.

State authorities netted $2.2m in taxes from sportsbooks in February.

During the period from January 28 to February 1, Louisiana mobile sportsbook operators received $40.5m in stakes from bettors in the state.

Due to the truncated operational period, sportsbooks generated a revenue loss of $8.5m in January.

At a retail betting level, Louisiana’s retail sportsbooks received $27.4m in bets during February, down 44.4% from those received a month prior and the lowest monthly total since the state legalized sports betting in November 2021.

Retail sportsbook revenues dropped by a whopping 88% month over month in February to just $642,663, down from a January high of $5.3m.

At a vertical level, parlay betting generated $647,128 in revenue, just beating basketball, which generated $492,568 in revenue. However, figures were hit by a $696,314 loss arising from football wagering.

At present, mobile bets can be taken in 55 of the 64 parishes which approved sports betting at an election held in November 2020.