As Louisiana sports betting enters its second year, the market is seeing a significant jump in action, according to Louisiana Gaming Control Board Chairman Ronnie Johns. September reports will be released soon and this will be the first full NFL betting season with mobile Louisiana sportsbooks, which launched in late January.
Johns also said that additional retail sportsbooks will open their doors soon, giving more options for bettors.
Louisiana Sports Betting Figures
Louisiana joined the legal sports betting states last November 2021 when it opened the first retail sportsbooks. These sportsbooks reported decent handles compared to other states with similar offerings. they even had a massive 20.4% hold rate in their first month but experienced a -4.1% hold in January this year.
Louisiana online sports betting go live at the end of January and the market performance was boosted instantly. Mobile sportsbooks have operated a few days before January ends and the handle already jumped from $39.5 million in December to 89.7 million in January. Louisianians wagered a total of $238.4 million in February, its all-time high, and remain beyond the $100 million mark after that.
Louisiana sportsbooks have already contributed 18.3 million to the state after retaining $125.7 of the total sports wagers.
Lawmakers predict that there will be a $30M annual tax revenue generated from this industry and Johns believed that it will exceed that estimate.
“We’re going to exceed [the projections], I have no doubt, strictly because of the football season,” he said.
“We caught the last three games of last season with mobile, so we have not had a football season with mobile sports betting.”
Louisiana officially wagered during the first day of the NFL season which is expected to boost the market, together with other upcoming leagues. The Saints have finally broken their losing streak after the 39-32 victory against the Seattle Seahawks and looking to remain in the winning column as they face the Cincinnati Bengals this week.
In addition, the NBA and NFL are right around the corner and expected to further increase the betting options.
Online Sportsbooks are Still Preferred
According to the LGVB Director, new retail sportsbooks in the Pelican State are drawing strong crowds. This is particularly true at the casinos in Lake Charles and Shreveport, where guests from Texas are flocking to place bets on the DraftKings Sportsbook Bar and Grill.
In addition, Harrah’s New Orleans also opened its permanent Caesars Sportsbook for guests.
However, Johns notes that mobile sports betting in Louisana account for approximately 80% of the handle. This is not surprising, given the convenience and accessibility of mobile betting apps. He emphasized that even the guest of retail sportsbooks are using their phone to bet which will fall under mobile sports betting.
“I was in there just watching and seeing the activity and the general manager pointed out some guys who were just having some burgers and beers and they were doing all their bets through mobile,” he said.
“Even though they’re there, it’s online.”