On Thursday, the Louisiana State Police reported $35.1 million in gross sports betting revenue from parlays. Overall, sportsbooks generated $55.2 million in September. Louisiana has had a regulated gaming market for roughly three years. Their all-time hold is a solid 11.9% and they had a 15.7% hold in September.
That was the sixth time that sportsbooks in Louisiana had at least a 15% hold and $170 million in a monthly handle. Gross revenue in the state was up 28% year-over-year Additionally, this was Louisiana’s second-highest gross revenue in state history. Their best month was last December with $56.5 million. In the first nine months of 2024, the state has accumulated $44.2 million in tax revenue. That already exceeded totals of $43.8 million in 2023.
Parlay wagers led to millions in revenue for Louisiana sportsbooks
The Louisiana State Police only provide revenue figures for certain categories. With a 30% handle as the benchmark for the state, wagering on parlays in September would have been a 33.2% hold. Parlay revenue in September accounted for 63.5% of all total operator winnings. Their year-to-date total is now over $200 million. This was the second-highest monthly total for parlay revenue. Only behind $43.2 million from last December.
Parlay revenue figures are only published in Maryland, Mississippi, New Jersey, and Louisiana. Those four states combined for $179.3 million of their $247.3 million in total winnings. Wagering on parlays represented 70.3% of all bets placed in those states in September. Additionally, parlay winnings account for 18.6% of the $934.6 million in total gross revenue from 21 states that reported their figures.
Louisiana’s “catch-all” category includes golf, tennis, hockey, auto racing, and MMA. Their state-record $9.5 million in revenue outside of parlays. The state’s previous record was $5.7 million in May 2024. For the sixth consecutive month, baseball wagering topped $2 million in the state. Operators have claimed $14.6 million from baseball through the first nine months of 2024.
