Casting an eye over the latest monthly US state results, iGB analyses further sports betting growth in Louisiana and an ongoing spending decline in New Hampshire.
Louisiana saw handle and revenue rise year-on-year during May. New Hampshire, however, reported lower revenue despite an increase in player spending.
Overall spend on sports betting in the state in May hit $256.7m (£203.1m/€240.1m), 31.6% higher than the same month last year. Of this total, $238.3m was bet online, with the other $18.4m wagered at retail sportsbooks.
Former Louisiana State University (LSU) national basketball champion Angel Reese signed to the WNBA team Chicago Sky in May at the start of the league’s four month season – this likely encouraged increased betting activity in the state during the month.
Revenue growth in Louisiana
As for gross gaming revenue from sports betting, this totalled $33.5m. The figure is 18.8% up on the previous year and marginally ahead of $33.0m in April.
Online betting accounted for $31.2m of all sports wagering revenue in May. Revenue from the retail market amounted to $2.3m.
Parlay betting drew the most revenue across both channels, with online at $21.3m and retail $1.4m. For a single sport, basketball was the biggest money-maker for online at $2.2m, whereas baseball took top spot in the retail sector with revenue of $479,857.
In terms of tax, online betting generated $5.5m in May, with retail at $244,950.
For the year to date, total wagered in Louisiana hit $3.12bn during the 10 months to the end of May. This includes $2.85bn in online bets and $275.6m in retail wagers.
Revenue-wise, for the whole market, this hit $361.8m for the same period. Some $333.4m is from online betting and $28.5m retail wagering.
Handle down again in New Hampshire
Turning now to New Hampshire, total spend in May hit $58.0m. This is 11.3% higher than last year but down 3.2% from April. It is also the second consecutive month of decline in the state.
Players spent $51.7m betting online in April compared to the $6.3m wagered at retail books.
As for revenue, this topped $6.5m in May. This is 7.1% lower than last year, despite higher spending, but 22.6% more than April and its higher handle.
Of all revenue generated in May, $5.9m came from online betting and $652,270 the retail sector.
New Hampshire generated $2.8m in tax from sports betting during the month. This includes $2.5m from online wagers and $293,521 retail bets.
For the year to date, total spend in New Hampshire during the 10 months to the end of May was $703.7m. This comprises $616.9m in online wagers and $86.8m in retail bets.
In terms of revenue, the total generated in the same period hit $71.5m. This includes some $64.5m from the online sector and $7.0m retail.
Original Article
