According to the Louisiana Gaming Control Board, the state collected $27.2 million in gross sports betting revenue for June. This was the seventh consecutive month that the state’s collective hold hit double digits. All sports betting operators in Louisiana combined for a 12.8% hold against $212.1 million in the handle. That was their third straight month with a hold of 12.5% or higher. Additionally, their gross winnings nearly doubled compared to the $13.6 million from June 2023. However, their betting handle a year ago was 32.5% higher than it is for June 2024. Finally, their $29.4 million in tax revenue for the first six months of the year is $11.3 million ahead of last year’s pace.
Sports betting revenue was rather balanced in June 2024 for Lousiana
Throughout its time as a legal betting state, Louisiana has historically shown to be a state where operators make a notable percentage of their revenue from parlays and same-game parlays. In June, that proved to be true for Louisiana. Sportsbook winnings from multi-leg wagers totaled $16.2 million but this was the first time since November 2023 that it was below $20 million. Their $142.9 million in parlay winnings for the first half of 2024 was 63.8% of their total revenue this year. Louisiana’s “catch-all” category which includes tennis, hockey, boxing, and swimming totaled $3.9 million.
The nine mobile sports betting operators in the state combined for a 13.2% hold in June 2024. That was from a $195.8 million handle. Louisiana’s 18 retail sportsbooks had an 8.8% hold in June on $16.2 million worth of wagers. Additionally, Louisiana saw revenue growth in operator winnings for baseball and basketball. Revenue was up $3.9 million in the positive direction for baseball in June. On top of that, the $3 million wagered on basketball was a six-fold increase from the numbers they had in June 2023. Their $27.6 million in winnings from basketball this year is $4.2 million more than the first half of last year.
