In total, punters wagered $211m at online sports betting operators in Louisiana, with February representing the first full month of wagering, since it was legalised by the state on 28 January.
January’s handle totalled $40m across the final four days of the month.
Of February’s handle, operators generated revenue amounting to $16.7m, which translated to $2.2m worth of taxes paid to the state.
Despite a lighter month in general for sporting activity, with states such as Tennessee feeling the pinch due to the end of the NFL season, this was the first year where online sports betting has been legalised during the Super Bowl.
It’s therefore no surprise that American football was the most-bet-on sport in Louisiana, followed by basketball.
In terms of revenue taken by operators, American football accounted for $9.8m, basketball brought in $5.1m, while earnings from parlay betting totalled $4.4m.
There are six online sports betting operators currently licensed in Louisiana, including Caesars Entertainment, Barstool Sports, DraftKings, FanDuel, BetMGM and Rush Street Interactive (through the BetRivers brand).
It is anticipated that, when the online sports betting market in Louisiana reaches full maturity, the state could generate total handle of over $1bn and revenue of $200m.
It is the growth of Louisiana’s online sports betting market that has perhaps affected the state’s retail sportsbooks, which posted their lowest handle on record.
Since launching in November 2021, February’s total handle of $27.4m is lower than the previous three months, with November’s $27.9m the second-lowest.
The 13 retail sportsbook operators generated revenues of $0.6m, compared to $5.6m of revenue in November.
