Louisiana nets record $43.1m in September sports betting revenue

Louisiana is fresh off a record-setting September after the state’s sportsbooks netted $43.1m in sports betting revenue, according to new data from the Louisiana Gaming Control Board (LGCB).

That revenue figure significantly eclipsed the $37.2m from December 2022 that had stood as the previous monthly high water mark.

September handle totaled $280.1m, just missing the all-time record of $282.3m established in January. Online sports betting has been live in Louisiana since the beginning of 2022.

Both handle (39%) and revenue (33.7%) saw massive year-over-year increases as Louisiana’s 18 retail sportsbooks and nine mobile operators generated $41.8m in adjusted gross revenue, resulting in $5.3m in tax payments back to the state, a new monthly record.

Parlays represented the wind in the sails of operators during the banner month, accounting for over half ($23.1m) of the state’s total revenue and more than double that from the previous two months combined.

The parlay haul helped significantly contribute to an aggregate 15.4% hold – the third highest all-time percentage for Louisiana operators and an eye-opening figure when juxtaposed with the industry average of roughly 7%-8%.

Promotional spend checked in at $1.3m, more than four times the amount of promotional dollars handed out in September 2022.

In terms of specific sports – the LGCB doesn’t report operator results – football was the primary profit driver after parlays, generating $9.1m in revenue. 

Baseball wagering, meanwhile, gave way to $6.8m in revenue, an all-time high for Bayou State operators.