Louisiana Sportsbooks Hit Record Highs in December, Doubling Revenue

The state’s mobile and retail sportsbooks reported a staggering $377 million in bets, a 5.7% leap from November’s handle, setting a new high for the Pelican State.

A Significant Surge in Operators’ Revenue

The contrast between November’s and December’s revenue figures is stark. In November, retail sportsbooks held 4% of bets, while online books retained 5.6%. However, December saw a dramatic shift, with retail operators securing 14.2% and mobile operators a substantial 14.9% of the bets.

The state’s licensed operators collectively reaped a hefty $55.7 million in December, outpacing the combined revenue of October and November, which was $61.8 million. This spike in revenue also translated into a considerable tax benefit for the state, yielding $7.5 million – more than double November’s $3.2 million.

Impact of Reduced Promotional Offers

Another factor contributing to December’s revenue boost was the reduction in bonuses. The previous month saw promotional deductions soar to $9.8 million with ESPN Bet’s launch. In a sharp turn, December’s promotional offers plummeted to just $690,000, the lowest since December 2022.

Our Comment on the Article

Louisiana’s sports betting landscape in December showcased a dynamic shift, reflecting the industry’s adaptability and potential for growth. The significant rise in operators’ revenue not only demonstrates the robustness of the market but also highlights the impact of strategic promotional activities.

As the industry evolves, it will be crucial for operators and regulators to balance promotional strategies with sustainable revenue models. This balance is key to ensuring a healthy market that benefits both the state and its betting community. The December figures, thus, mark an important milestone in Louisiana’s sports betting journey, setting a precedent for future growth and sustainability in this rapidly evolving industry.