Louisiana sportsbook handle slumps 17% in May
Pelican state operator revenue leaps by triple-digits month over month but handle falters
Louisiana sports betting handle dropped 17% month over month (MOM) during May, according to the latest data released by the Louisiana Gaming Control Board (LGCB).
Pelican State sportsbooks took $171.1m in bets from players during the month, down from the $208.2m taken from both retail and online sportsbooks in April.
The handle figure was down 28% from the all-time high figure of $238.4m generated during the first full month of operation in February.
Operator revenue, however, grew by a whopping 351% MOM in May to $25.3m, with the online sector accounting for $22.3m of this total revenue figure.
Sportsbook operators deducted just $364,295 in promotional spending during May, with online firms generating a 15% hold.
The LGCB collected $2.7m in taxes from the state’s licensed online and retail sportsbook operators.
A total of seven online sportsbooks operate in the Pelican State: Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel, and WynnBet.
There are currently 16 retail sportsbooks operating in Louisiana, generating a handle of $28.5m, revenue of $2.7m, and a hold of 9.4%.
At an individual sports level, baseball betting accounted for $5.9m of overall revenue, just beating basketball, which generated $5.1m in revenue in May. Sportsbook operators won $12.4m on parlay betting.