Louisiana February sports betting handle reaches $381.2m

The Louisiana Gaming Control Board has released its online and retail sports betting revenue results for the month of February.

Last month, the state took in a combined total of nearly $381.2m in bets from its online and retail sports betting operators. Wagering activity last month rose significantly for both the state’s online and retail operations.

Online sports betting reported a 40.6% increase year-over-year, while retail locations reported a 17.6% boost in activity when compared to the previous year.

However, bets placed in January fell by $2m month-over-month.

Last month, Louisiana posted a $355.7m mobile sports betting handle. Retail locations reported a $25.5m handle for the month.

Net proceeds from online sports betting in February reached close to $45.1m, while Louisiana sports betting retailers reported $2.5m in net proceeds during the month.

Sports betting paid the state $9.2m in taxes in February.

Last summer, Louisiana implemented a statewide ban on prop betting on college athletes through licensed sportsbooks. The state said the ban was issued “for the safety and integrity of athletes.”

However, players can still wager on totals, point spreads and game outcomes. Prop bets that involve “full team statistical outcomes” will remain legal in Louisiana after August.

Good to know: The ban took effect August 1

Prop bets involve wagers on how many rebounds or points a basketball player could have or the number of touchdowns or yards that football players might have. With prop betting, players wager on these game aspects “instead of or in conjunction with a game’s outcome or spread.”

Since the federal government lifted its ban on legal sports betting, following the Supreme Court’s decision to overturn the Professional and Amateur Sports Protection Act of 1992 (PASPA) six years ago, 38 states have established legal and regulated sports betting markets.

Laura Mack

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