Louisiana sports betting handle down in May

Louisiana’s retail and online sports betting handle came in at $171.1m.

US.- Louisiana’s sports betting handle was $171.1m in May, according to the Louisiana Gaming Control Board. The figure was down 17.8 per cent from the $208.3m wagered in April. The seven online sportsbooks in Louisiana took $142.9m in bets, while retail sportsbooks were responsible for the other $28.5m.

Louisiana sportsbooks took $25.7m in gross revenue, up 351.7 per cent compared to April’s $6.1m. The big difference was due to win percentage. Bettors did relatively well in April and sportsbooks had a slim 1.8 per cent hold, but in May, sportsbooks had a win percentage of 15.9 per cent.

The seven online sports wagering operators in Louisiana saw $22.6m in net proceeds, a big increase from $3.3m in April. 

Baseball led the way for individual sports in Louisiana, accounting for $5.9m of overall revenue. Basketball was second, with sportsbooks taking $5.1m. Sportsbooks won $12.4m on parlays.

The state collected $2.7m in taxes in May. Since the October 31 retail sports betting launch, Louisiana has brought in $12.6m in sports betting taxes.

Louisiana’s mobile sports betting market opened on January 28 following the launch of sports betting at land-based casinos in October. The opening weekend saw more than 3.4m geolocation transactions, according to GeoComply.

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