Football season is really pushing the sports betting markets across the country in betting handle, and in some cases, revenue. If you check your bookie news, you will see practically all of the reports from each state give the same result: an increase in monthly, and even year-to-year sports betting handle. Sports betting in Louisiana is one of those states in the US that is seeing higher betting numbers- high enough that the state sets a new betting record.
But Louisiana sportsbooks have more to be happy about as October’s handle is around $255.5 million- the highest the state has ever recorded. The previous record that retail and sports betting software companies in the Pelican State was back in February at $238.4 million. Meanwhile, September’s handle was $207.5 million. We do not have year-on-year data comparable to October’s report since online sports betting was not available in the state back in October 2021.
Sports Betting in Louisiana: Sources, Revenue, and Other Data
When looking at your Bookie Operating fixed costs, revenue will be a huge concern. You will want to be keeping more money than spending them to turn a profit. For Louisiana, sportsbooks are doing great. This month sets a net revenue of $30.2 million, an 11.8% win rate. Despite the high revenue, it is, however, lower than the previous month. September’s revenue is $31.8 million and a 15.3% win rate.
As for where the wagers come from, your sportsbook pay per head software still has an advantage over retail betting. For Louisiana, online sports betting has a $219 million handle, with $36.5 million in retail betting. Football betting is the biggest revenue generator for the state’s sportsbooks.
So far, Louisiana has seen a total of upwards of $700 million this 2022, with net revenue at around $92.5 million. And since the state earns from this too, they have collected around $12.4 million in taxes so far. With football season continuing on, plus basketball betting which will pick up in November, we will not be surprised if Louisiana will be setting another record soon.