Louisiana online sports betting revenue rockets in May despite handle decline
Online sports betting revenue in Louisiana jumped 584.9% month-on-month in May despite the US state witnessing a 23.3% decline in handle.
Revenue for the month amounted to $22.6m, a significant increase from $3.3m in April and the second-highest monthly total since Louisiana opened its legal online betting market in January this year.
However, consumer spending fell from $186.0m in April to $142.6m, the lowest full monthly total since the market’s launch. It was also noted that this figure included $365,295 worth of promotional bets, the lowest monthly figure to date.
Baseball betting proved the main single source of revenue for licensees, with wagers on the sport generating $5.7m in revenue, ahead of $4.7m from basketball, $331,777 from football and $126,440 from soccer.
It was also noted that $837,380 in revenue came from betting on other sports, while $10.9m was generated from parlay betting.
Turning to retail betting, which became legal in October last year, revenue for the month was $2.7m, up 17.4% from $2.3m in April. Retial handle also increased by 28.4% to $28.5m.
Basketball was the main revenue source in retail, with revenue reaching $401,675. Baseball followed on $248,587, then soccer with $25,090, while football betting generated a loss of $9,638.
Revenue from other sports totalled $535,460, while parlay betting revenue was $1.5m.