Louisiana sportsbooks hit record handle in October

Louisiana bettors have made more than $1.8bn worth of wagers in the first 12 months of activity.
Louisiana bettors have made more than $1.8bn worth of wagers in the first 12 months of activity.

Louisiana’s sports betting handle reached $255.5m in October.

US.- Louisiana’s sports betting handle was $255.5m in October, up 23.1 per cent from September. It’s a new record, beating the $238.4m taken in February. Customers have bet more than $1.8bn since the state opened its regulated retail betting market 12 months ago. Online betting launched in January.

In October, operators registered $30.7m in gross revenue, down 4.9 per cent compared to September’s record of $32.3m as the 12 per cent hold for October was more than 3.5 percentage points lower. At retail, players spent $36.5m, 16 per cent higher than in September and the best monthly performance since January. Retail revenue reached $4.3m.

According to the Louisiana Gaming Control Board, $4.3m was collected in sports betting taxes. Louisiana’s coffers filled with $26.3m in tax receipts for the first 12 months of operation — $25.3m of which came in the first 10 months of this year.

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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LOUISIANA GAMING CONTROL BOARD sports betting in Louisiana