US round-up: online growth drives Louisiana in FY, mixed June for Mississippi
Starting in Louisiana, players staked $3.33bn, an increase of 32.1% figures from the state Gaming Control Board show. Of this, $3.04bn was bet online, a rise of 37.2%, and $291.7m at retail sportsbooks, down 5.0%.
After promotional spend – something that skewed Michigan sports betting figures in June – of $44.4m, net revenue from sports betting came to $388.1m, up 58.3% on the prior year.
Mobile betting accounted for $358.2m of the total (a rise of 73.2%) although retail’s $29.9m contribution was down on the prior year. Mobile launched in January 2022, months after the first retail bets were placed in October 2021.
American football was the sport that generated most revenue across online ($30.1m) and retail ($3.5m). However, parlay bets saw the most revenue for both channels (online $251.2m, retail $19.4m).
Win percentage for online betting in FY2023-24 was 11.8% and retail 10.2%. In addition, total tax from sports betting in Louisiana hit $55.2m, with $55.2m coming from online and $3.0m retail.
Strong finish to 2023-24 for Louisiana sports betting
Turning to June, total handle in June was $212.0m. This is 30.8% higher than $162.1m last year but 17.4% less than $256.7m in May this year. Online spend topped $195.8m, up 34.4%, while retail wagers climbed 12.5% to $16.2m.
Online betting win percentage reached 12.7% for the month, with retail at 8.7%.
Revenue for the month hit $26.2m, up 109.6% on last year but 21.8% lower than May’s $33.5m. This continues a trend in which June – normally a quieter month – outperforms the prior year, something that’s clear from all state results published to date.
Online revenue hit $24.8m, up 118.8% but retail revenue slipped 21.9%. Only two months in the whole of FY2023-24 saw year-on-year retail revenue growth: July and September.
Parlay betting reigned supreme, as it does in many other states, generating $15.6m in online revenue and $594,920 retail revenue.
In terms of individual sports, basketball made up the most online revenue in June at $3.0m although, in the retail market, it was baseball that led the way with $249,449.
As for tax, this hit $24.9m, with $24.8m coming from online and retail $115,955.
Mississippi revenue edges up despite handle decline in June
Elsewhere in June, Mississippi Gaming Commission figures report a 5.6% year-on-year increase in sports betting revenue to $1.9m. This, however, was lower than the $2.1m reported on May this year.
Spending-wise, handle for June topped $19.4m, down 4.9% from last year, with the market limited to in-person wagering. This suggests a hold of 9.8% across all operators.
Coastal casinos drew the most revenue at $1.0m off a $12.1m handle. Baseball was the most popular sport with $233,105 generated from $2.9m in bets. Parlay cards have been a leading product in other states, but accounted for just $361,551 worth of revenue off $2.2m in stakes in the region.
Total revenue from central casinos was $596,110 from handle of $5m. Here, basketball was the single sport moneymaker with $913,093 in bets generating $222,338 in revenue, a 24.3% hold. However, baseball still drew the most bets at $1.5m with the MLB season under way.
Finally, revenue at northern casinos was $313,547 off $2.2m in bets.