Online betting revenue in Louisiana up 70.0% in March despite drop in handle – Sportsbook

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Online sports betting revenue in Louisiana rose 70.0% month-on-month to $28.4m (£21.8m/€26.3m) in March despite a 2.5% decline in player spending.

Revenue for the second full month of legal online betting in the state comfortably topped $16.7 million in February, while for the first days of regulated betting in January — with the market having opened Jan. 28 — there was a loss of $9.0 million.

Players wagered $205.7 million on sports via the Internet in March, compared to less than $211.0 million in February. However, February’s handful total included $10.0 million in promotional bets and offers, while March only had $802,245 in promotional deductions.

Basketball betting was the main source of revenue for operators, with licensees earning a total of $12.8 million from these bets. Football revenue was $467,735 and baseball revenue was $173,131, while parlay revenue was $13.6 million.

Penn National Gaming and its Barstool Sportsbook, Caesars, DraftKings, Rush Street Interactive and its BetRivers Sportsbook, and Flutter Entertainment-owned FanDuel Group, in partnership with Boyd Gaming, all brought online sportsbooks live on the day of the start of regulation in January.

WynnBet and its licensed partner Horseshoe Bossier followed just over a week later, with a launch on February 9th.

In retail betting, which became legal in October last year, March revenue was $1.7 million, up 168.0% month-on-month, while retail bets edged down 1.5% to $27.0 million.

Basketball was again the main source of income for traders, although at a much lower value than online trading at $133,540. Baseball revenue was $41,591 and football revenue was $20,903, while football betting produced a loss of $300,093 and parlay betting revenue reached $1.8 million.

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