It has been nearly a year since an online option launched in the Louisiana sports betting market, and the records have been falling in the state ever since.
The Bayou State got off to a fast start as customers being able to bet using their mobile, laptop or desktop devices is concerned.
Within a few days of the launch on Jan. 28, 2022, Louisiana sports betting apps and retail sportsbooks combined for $89.7 million in wagers accepted, or handle. In February, the first full month, the state took in $238 million of handle.
That mark stood until October, when Louisiana mobile wagering surpassed $255 million. That record fell again in November, with $268 million in action.
In all, the state collected more than $2.3 billion in sports wagers in 11 months (plus a few days) since mobile wagering began. Compare that to the retail-only market from a couple of months prior, when in a two-month span the state took in less than $70 million at its physical casinos.
Tracking Louisiana Sports Betting Revenue
Louisiana sports betting revenue has exceeded $30 million in a month four times since launch, including a record $36.9 million in December. Only 11 states have brought in more revenue in any single month.
Louisiana has had revenue peaks fairly comparable to Michigan, a market that began accepting legal sports wagers in January 2021. Michigan has had far higher handle, topping out in the $500 million range during peak sports season.
Louisiana has brought in about $189 million in revenue from Jan. 28 to Dec. 31; Michigan reported just over $253 million in sports betting revenue for all of 2022. Louisiana has had a few pronounced dips, especially in November, when the state reported minus-$25.6 million after paying out tens of millions in winning Astros World Series bets placed by Texas furniture magnate Jim McIngvale.
The only states to exceed Louisiana for sports betting revenue in any month are Arizona, Colorado, Illinois, Indiana, Michigan, Nevada, New Jersey, New York, Pennsylvania, Tennessee and Virginia.
Louisiana Offers Appealing Local Options
The Bayou State, like everywhere else, has had the best sports betting figures in the winter, when football and basketball co-exist.
Those two sports lead the wagering action nationwide and, despite a somewhat disappointing season for the New Orleans Saints, there are some appealing local options. Bettors who like to lead with their heart when placing wagers in Louisiana have probably done well financially too.
The LSU Tigers rebounded from an opening loss to Florida State to finish the regular season 9-3 and as SEC West Division champions. The Tigers lost to Georgia in the SEC Championship Game but trounced Purdue 63-7 in the Citrus Bowl and rewarded their backers in coach Brian Kelly’s first season in Baton Rouge.
Tulane, with its campus right in New Orleans, rewarded its fans and bettors even more handsomely. The Green Wave rebounded from a 2-10 campaign in 2021 with the program’s best season in decades, culminating in an American Athletic Conference championship, a national ranking and a 46-45 victory over USC in the Cotton Bowl, Tulane’s first major postseason bid since the 1940 Sugar Bowl.
The New Orleans Pelicans have surprised many observers with their start to the NBA season. The Pelicans are contenders in the NBA’s Western Conference. At DraftKings Louisiana Sportsbook, Zion Williamson and company are +3000 to win their first NBA championship.
The Saints finished 7-10 and out of the playoff hunt as the franchise continues to seek a steady replacement for former quarterback Drew Brees.
Louisiana Casino Revenue Has Slight Dip
For the 2022 calendar year, Louisiana casinos reported $3.188 billion in revenue. That was down slightly from 2021, when the state had $3.209 billion in revenue from its casinos.
Louisiana derives on-site gaming revenue from 14 riverboat casinos, one land-based casino, four racinos – horse racing tacks with slot machines – and more than 12,000 video gaming terminals statewide. Those VGTs are placed in hotels, truck stops, racetrack OTBs and bars and restaurants.
There are no Louisiana online casinos. Only six states have legal, regulated online gaming, also known as iGaming: New Jersey, Michigan, West Virginia, Delaware, Pennsylvania and Connecticut. Those states offer options such as online slot machines, card games and roulette.