Louisiana Sportsbooks’ Winning Streak Continues

The Louisiana Gaming Control Board’s latest report highlighted a near $52.7 million gross revenue, driven by strategic promotional activities from the state’s 10 mobile sportsbooks.

Aggressive Promotions Fuel Growth

January witnessed an unprecedented promotional spree, with operators distributing $13.8 million in credits and bonuses, setting a new state record. This aggressive marketing contributed to a 22.7% increase in handle year-over-year, reaching $346.3 million, making it the third-highest in the state’s betting history.

The Pelican State’s sportsbooks have consistently outperformed, with January’s 15.2% win rate underscoring their efficiency in capitalizing on bets. This figure, significantly higher than the 7% industry standard, marks the sixth instance of surpassing the 15% threshold in mobile betting’s 25-month history in Louisiana.

Record Revenues and Tax Contributions

The substantial promotional investments led to an adjusted gross revenue of nearly $39 million, eligible for taxation. Consequently, the state benefited from $5.7 million in taxes, pushing the cumulative tax contributions from sports wagering past the $80 million mark.

Our Comment on the Article

Louisiana’s sports betting sector is showcasing an exemplary model of growth and profitability. The strategic use of promotional credits has not only expanded the market but also resulted in impressive revenue figures and tax contributions.

This approach, coupled with the state’s high hold rates, positions Louisiana as a leading player in the U.S. sports betting industry. Moving forward, it will be intriguing to see how these strategies evolve and continue to shape the state’s betting landscape.