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FinancialSports BettingResults

Louisiana's sports betting industry shows positive May performance

Mobile betting continued to lead the charge, with net proceeds from the mobile sector up 22.4% compared to the same time last year.

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In May 2024, Louisiana's sportsbook industry displayed noteworthy figures in both mobile and retail segments, highlighting the state's evolving sports betting landscape.

The data, taken from the Louisiana Gaming Control Board, provides an insight into the revenue and market performance for the month.

The mobile sportsbook sector demonstrated substantial activity, with 238,268,987 wagers written – a figure that represents a 34% increase in wagers compared to the same time last year.

The promotional deductions were also significant during May, however, standing at $1.2m. Interestingly, this is nearly 70% less than the amount that was spent on promotion in the previous month.

The net proceeds from the mobile sector were $31.2m, up a notable 22.4% from May 2023.

Of the sports listed in the document, basketball brought in the most money, accounting for $2.1m across the month.

Retail sportsbooks also made a considerable impact in May 2024, with a total of 18,391,010 wagers being written throughout the month.

While this figure is significantly lower than the total wagers for mobile betting (92% lower, to be precise), it is worth noting that the promotional deductions in this segment were also markedly lower, standing at just $18,719 in total.

Net proceeds in the sportsbook sector were down 23.7% compared to the previous year, though interestingly it was soccer that saw the most in-person bets.

In related news, Louisiana recorded its highest sports wagering activity ever at the end of last year, documenting a record-breaking handle of $356.5m in November.

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