Louisiana Mobile Sports Betting Handle Reaches $368M in October
In October 2024, online sports betting in Louisiana recorded a handle of $368 million, reflecting a 33.3% year-over-year increase.
$41M in Operator Revenue
After accounting for promotions and operator losses, net revenue for sports betting operators in Louisiana totaled $41 million. Despite the significant handle increase, this represents a 14% decline in revenue compared to September.
However, revenue rose 4.7% year-over-year compared to October 2023.
This trend reflects a high volume of bettor winnings, driven by favorable outcomes for favorites—a phenomenon observed across multiple states in October.
The average hold rate for Louisiana operators in October was 11.1%, generating $6 million in state tax revenue.
Revenue by Sport
Football continued to dominate in October, delivering the highest revenue among all sports. The breakdown of revenue by sport is as follows:
- Football: $7.2 million
- Basketball: $2 million
- Baseball: $1.6 million
- Soccer: $303,000
- Other sports: $6.9 million
Parlay bets accounted for over half of operator revenue, bringing in $23.4 million in October. This was a notable decline from $31.5 million in September.
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