November: Louisiana mobile sports betting down huge 206% thanks to Mattress Mack
Louisiana’s revenue for mobile sports betting was in the negative at -$27.6m, down 206% month-on-month.
This has been attributed to Jim “Mattress Mack” McIngvale’s record $75m betting win on the NBA World Series.
Mattress Mack placed $10m in wagers on the Houston Astros, which overcame the odds to win the World Series.
He placed his bets across multiple sportsbooks, including Unibet, Betfred and Caesars. In fact, his biggest single bet was placed with Caesars ($3m).
At the time of his win, Caesars Digital COO Ken Fuchs said: “What can we say? We just wrote the biggest check in sports betting history to Mattress Mack for $30,000,000.”
What’s more, Mattress Mack’s $5m payout from Betfred was the most the book has ever paid out in its 50-year history of business.
Without the significant payout to Mattress Mack (I.e., had he lost) mobile sports betting revenue would’ve been $47.4m. It’s clear, then, that Mattress Mack’s big betting made a definitive difference to the state’s overall performance.
Sports betting revenue from retail sources also took a marked downturn in the Pelican state, dropping 54% from October to $2m.
The picture was better in Louisiana’s casinos, with Caesar’s Harrah’s New Orleans location generating $23.3m, up 84% month-on-month.
Without this significant contribution, Louisiana’s overall revenue would’ve fallen by 20% in November vs October.
As it stands, the state’s casinos generated $218.4m for November, down 15% monthly.
Of all the state’s casinos, Boyd’s Treasure Chest location posted the worst month-on-month results, down 25% from October.
In fact, the only location backing up Harrah’s with positive revenue was the Golden Nugget, which generated $26.7m, up 9% month-on-month.
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