Louisiana sets sports betting handle and revenue records in October

Sports betting handle was 20.8% higher than $255.5m in October 2022 and up 10.2% from $280.1m in September this year. It also beat the existing Louisiana record of $282.3m that was reported in January 2023.

Of this total, $276.2m was spent betting on sports online, while $32.4m was bet at retail sportsbooks in Louisiana. 

Revenue narrowly exceeds Louisiana monthly record

Turning to gross revenue, this also hiked 63.5% year-on-year to an all-time high of $43.3m in October. This was marginally ahead of the $43.1m existing record posted in September this year.

Online gross revenue in October amounted to $40.1m, with retail’s share at $3.3m.

As for adjusted revenue, which discounts all promotional betting, total market revenue was $42.5m. The $875,871 deducted from the gross revenue figure was from online promotional bets. 

Football betting in Louisiana generated the most adjusted revenue, with $7.3m coming in online revenue and $249,242 retail. Baseball was also popular with $3.3m in retail revenue and $437,224 retail.

Year-to-date handle nears $1.00bn

Turning to financial year-to-date, total handle in Louisiana in the four months to the end of October was $877.4m. This includes $786.4m in online bets and $91.0m in retail wagers.

Adjusted revenue for the period reached $118.9m, with $106.0m coming from online and $12.6m retail.