It was a mixed bag of results for Louisiana sports betting and the state’s casino operators during February.
Between a 30% month-over-month drop in handle and a 1.7% gain in casino revenue, the tea leaves are still out on the second month of the year in the Pelican State.
Louisiana Sports Betting, February vs. January
Louisiana Sportsbooks Fall Precipitously
Overall, the state’s sports betting operators reported a $197,709,561 handle in February, down from January’s haul of $282,369,901.
Sports betting revenue fell 31.3% month-over-month, from $28,004,732 in the Louisiana January casino report, to $19,244,557. And wagering taxes declined 23.4%, from $3,320,238 in January to $2,544,605 in February.
Here’s what you should know about Louisiana’s sports betting and casino report for February:
Louisiana Casinos See Bright February
The state’s casinos had a bright February, with $259,512,974 in revenue (up 1.7% from January’s total of $255,104,048) and improvements in all facets of reporting.
That should bring a bit of St. Patrick’s Day spirit in New Orleans and casino operators all around the state.
Between a slight improvement in video gaming revenue ($66,277,227, from $62,125,271) to increases in land casino gross gaming revenue ($21,630,342, from $20,145,396) and racinos ($27,313,475, from $25,033,432), it was a strong February for the facilities.
Despite that monthly growth, February’s casino revenues still dropped slightly from last year’s figure of $268,117,489.
Still, Louisiana’s casino revenue is moving in the right direction heading into the heart of spring and festival season. And that should be a bright sign of what’s to come in a state with a strong appetite for casino gaming.
Where LA Sports Betting Handle Ranks
As of Friday, Louisiana’s February sports betting handle ranks fourth nationally, sandwiched between Maryland ($339,421,546) and Kansas ($194,034,469). As with all states that offer competitive mobile markets, the online Louisiana sportsbook apps accounted for the vast majority of bets — $175.74 million worth, or about 89% of the statewide total.
Nationally, New York is far and away the No. 1 state by sports betting handle, at $1,474,299,932, followed by Indiana, at $356,187,759. Many states have yet to report February figures.
Through 16 months of reporting, Louisiana sports betting operators have taken in just over $2.8 billion in handle, with January’s haul being the largest in the state’s history.
The NCAA Basketball Tournament, a major betting event, is underway and all eyes in Louisiana will be fixed on whether the state can one-up its $232,730,341 handle from March 2022.
With the LSU women securing a No. 3 tournament seed (they play Friday afternoon against No. 14 seed Hawaii, with the Tigers favored by 31.5 points at BetMGM Louisiana Sportsbook), March should be a month of great interest in the state.
For now, Louisiana sportsbooks can close the books on another NFL betting season, turning their attention to the madness of March, when thousands of wagers will be place statewide on men’s and women’s basketball contests taking place nationally.
Don’t forget to check out the best Louisiana sports betting promos available before you place those March Madness bets.