All About Louisiana Sports Betting Handle And Revenue
The experts at LouisianaBets.com have developed this guide to help you better understand the terms used when discussing Louisiana sports betting revenue and handle. The state releases those figures on a monthly basis.
Louisiana voters approved a constitutional amendment legalizing sports betting in November 2020. It allows for both in-person wagering at a brick-and-mortar sportsbook in a casino, or wagers through a mobile app or an online site.
Brick-and-mortar sportsbooks began opening on Oct. 31, 2021. Online sports betting launched Jan. 28, 2022.
There is one caveat to Louisiana that makes the state different than others that have legalized sports betting. It is only legal in the 55 parishes where voters approved the referendum. Neither in-person sports betting nor Louisiana sportsbook apps are legal in the other nine parishes.
Louisiana Sports Betting, February vs. January
Louisiana Sports Betting Handle and Revenue: February 2024
The February sports betting swoon was in full effect for Louisiana sportsbooks this year, with the state’s operators seeing a 20.7% drop in wagering handle and a 35.6% drop in revenues month-over-month.
Overall, Louisiana sportsbooks took in $274,775,955 in bets during February, which was down 20.7% from January’s total handle of $346,320,907, with $253,069,041 in mobile bets (down 20.4% from January’s total of $317,844,144), while the Bayou State’s retail handle of $21,706,914 (down 23.8% from January’s total of $28,476,763).
On the revenue front, Louisiana sports betting operators took in $25,040,585 in February, which was down 35.6% month-over-month from the $38,892,781 the operators took in during the first month of 2024.
As far as Louisiana sports betting taxes were concerned, operators in the Bayou State chipped in $3,765,778 in February, down 33.7% from January’s tax bill of $5,681,508, putting a final touch on the month of February in the Boot.
Note that these figures factor out dollars spent with Louisiana sportsbook promos.
Louisiana Mobile Sports Betting History
Louisiana Sports Betting Handle and Revenue FAQs
Bettors in Louisiana wagered $2.9 billion on sporting events in 2023.
Louisiana taxes online and in-person sports betting differently. In-person sportsbooks pay a 10% tax on their revenues. Online operators pay a 15% tax. However, operators are allowed to deduct promotional spending from their tax liability, and they may also carry forward any losses to offset future revenue.
Louisiana releases its monthly sports betting reports in the following month (i.e., January’s data is released in February, etc.).
A quarter of the revenue generated by the sports betting tax, up to $20 million annually, goes to early childhood programs in Louisiana, and 10% is allocated for local governments. Funding is also set aside for a horse racing supplemental purse fund (2.5%), a disability affairs trust fund (2%, up to $500,000) and a behavioral health fund (2%, up to $500,000). The remainder goes to Louisiana’s general fund.
The Louisiana Gaming Control Board is responsible for establishing the rules for sports betting and licensing operators.
Mobile sports betting is defined as the amount of money wagered through apps on mobile devices or online websites. Mobile wagering started in Louisiana in January 2022. Mobile and online wagering is by far how most Louisiana bettors participate in sports betting. In 2022, the state’s eight online operators accounted for more than 85% of the handle. Many mobile operators offer Louisiana sportsbook promos to their customers.
The handle is the amount of money bettors wagered for a specific period. This adds up to hundreds of millions each month in the Bayou State. The revenue is what sportsbooks retain after paying out winning wagers. Operators reported more than $189 million in sports betting revenue for 2022.
Author
Christopher Boan writes for LouisianaBets.com and has been covering sports and sports betting for more than seven years, with experience at ArizonaSports.com, the Tucson Weekly and the Green Valley News.
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