Big Month for LSU, Sports Betting in the State

Big Month for LSU, Sports Betting in the State
Fact Checked by Pat McLoone

March Madness ended with Louisiana State University winning its first women’s NCAA basketball championship.

The tournament also was good news for sportsbooks in Louisiana.

Handles in all three sports wagering categories (total, mobile, retail) increased as official figures were released by the state Monday afternoon.
 
Total sports betting handle for March posted at nearly $250 million, up a solid 26.1% from the February revenue report ($197.70 million).

The handle for Louisiana sports betting apps was more than $223.12 million, up 27% from February's $175.74 million.

On the brick-and-mortar side, retail sportsbooks generated more than $26.15 million, an 19.1% increase from February's $21.97 million.

Revenue also increased, which meant happy legislators in Baton Rouge.

Sports betting revenue for the month came in at $29.77 million ($26.23 million mobile, $3.53 million retail), up a staggering 54.7% from February's $19.24 million. The state collected more than $3.58 million ($3.28 million online, $308,463 retail), an increase of 41.1% from February's $2.54 million.

Southeastern Louisiana (Southland Conference) and Southern University (SWAC) also earned bids to this year's NCAA women's college basketball tournament. Louisiana-Lafayette (Sun Belt Conference) was the lone school from the state to make the NCAA Men's tournament.

Louisiana Sports Betting, March vs. February

Month Total handle Mobile handle Revenue
March $249.279M $223.121M $29.766M
February $197.710M $175.738M $19.245M
Change Up 26.1% Up 27.0% Up 54.7%

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Second Straight Increase for Louisiana Casinos

Louisiana casinos had their second consecutive month of increased revenue and the first double digit-increase since Dec. 2022. 
 
March total gaming revenue for the Pelican State exceeded $291.9 million, a significant 12.5% increase from February's $259.5 million.

A breakdown of the total:

  • Video Gaming (Net Dev Revenue): $73.6 million ($7.32M uptick from Feb.)
  • Riverboat casinos (total Adjusted Gross Revenue): $166.6 million ($22.31M jump from Feb.)
  • Land casino (total GGR): $22.03 million
  • Racinos (slots at racetracks, total AGR): $29.71 million

Remember, LouisianaBets.com is your source for sports wagering news in the state as well as for Louisiana sports betting promos.

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Author

Lou Monaco is a contributing writer to LouisianaBets.com. Lou had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.

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