Louisiana sports betting handle reaches $350.0m in March

Players in Louisiana spent $350.0m (£281.2m/€329.1m) across online and retail betting on sports in March, a 41.0% increase from the same month in the previous year.

Monthly spend was comfortably ahead of the $248.3m wagered in Louisiana in March 2023. It was also 27.4% more than the $274.8m bet in February of this year.

This halted two consecutive months of decline, with Louisiana reporting month-on-month declines in January and February. The March total was also marginally ahead of the $346.3m bet in January.

Of the total spent on bets, $319.4m was wagered online and $30.6m at retail sportsbooks.

Louisiana revenue rises to $33.8m

Turning to revenue from sports betting, this amounted to $33.8m during March. The figure was 17.8% ahead of the $28.7m generated in the same month last year.

In terms of month-on-month performance, March’s total was 34.7% ahead of $25.1m in February.

Online betting was responsible for $31.7m of all sports wagering revenue in Louisiana in March. As for retail, sportsbooks in this sector contributed $2.1m in total revenue.

As for tax, Louisiana collected $4.7m from online betting and a further $167,068 from retail activity.

Year-to-date revenue nears $300.0m

Looking at how March impacted year-to-date, total handle for the nine months to the end of March was $2.58bn. Online betting spend in this period amounted to $2.34bn and retail $237.4m.

For revenue, this amounted to $291.9m in the reporting period. Online wagering generated $267.0m in total revenue and retail sportsbook $24.9m.

Louisiana collected $37.6m in online sports betting tax during the year-to-date. In addition, it took $2.5m in tax from retail wagering operations.

ESPN Bet, Bet Rovers, BetMGM, Caesars, DraftKings, FanDuel, PointsBet, Betway, Bet365 and ClutchBet all currently operate in Louisiana.

Original Article