According to figures released by the Louisiana Gaming Control Board this week, sports betting revenue was up by 92.6% when compared to June, and casino revenue was up by 8.1%. This is great news for the state, which has been looking for ways to increase its revenue in light of recent budget cuts.
Louisiana Sports Betting Figures
Louisiana just launch sports betting last November 2021 and it is still unpredictable until now. While the sports betting handle continues to drop after reaching the $238 million all-time high, the sports betting revenue shows a rollercoaster trend.
| Month | Total Handle | Mobile Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| June 2022 | $132.44M | $113.73M | $10.694M | 8.1% | $1,424,413 |
| July 2022 | $118.33M | $103.34M | $20.598M | 17.4% | $2,447,185 |
| Change | Down 10.7% | Down 9.1% | Up 92.6% | Up 9.3% | Up 71.8% |
Mobile handle still accounts for a massive 87% of the total handle but shows a 9.1% decline compared to June reports. However, Sports betting revenue almost doubled compared to the previous month with a 92.6% increase.
July revenue reaches $20 million again despite having less handle. This is due to a 9.3% increase in the hold rate. It rises from 8.1% in June to 17.4% in July.
Sportsbooks in Louisiana retained much more that month but the State also collected more taxes. From the $1.4 million collected in June, it reached more than $2.4 million in July.
Pelican State’s sports betting may soon increase in every aspect as the sporting events will come again. The National Football League will go live again this September while National Basketball Association will be back in action this October.
Louisiana Casino Revenue
Louisiana casino revenue also rises in all four areas – racinos (slots at racetracks), riverboat casinos, video terminals, and one land-based casino. Reports show that the $270.9 million revenue in July is 2.2% higher compared to the $265 million in June. However, it is 8.5% lower compared to July 2021 numbers.
Delta Downs Racetrack in Vinton leads the way with a 16.5% increase over a month. It also accounts for 55% of the total revenue increase.
Louisiana’s video gaming sector reported a 2.8% increase The State’s Riverboat casinos collected a total of $152.2 million, a 0.2% increase compared to June.
