Louisiana posts $6.3m in November revenue; but Mattress Mack costs online books millions
This is the highest number the state has recorded since sports betting went live this year. But mobile sportsbook weren’t so lucky.
The state of Louisiana’s Gaming Control Board has reported another boost in sports betting revenue for the month of November. The state generated more than $6m in taxes during the month.
However, mobile sportsbook operators reported a net loss of more than $27m during November. The loss is attributed largely to the $75m won by Jim “Mattress Mack” McIngvale after placing a wager on the Houston Astros during the World Series.
This means that, minus Mattress Mack, things were pretty positive for the Bayou State…
During November, Louisiana posted nearly $6.3m in revenue, representing the largest monthly recorded in Louisiana to date. Sports betting companies started operating statewide in November 2021.
The boost in revenue is credited to a series of football wins at LSU, Tulane and Southern University, which all celebrated conference championship victories during the month.
Louisiana legalized sports betting earlier this year. Prior to going live, the state projected an annual revenue of $30m. To date, the state has generated more than $36m in revenue, according to the Gaming Control Board.
The month of November also brought with it profits for both retail sportsbooks and daily fantasy sports.
Meanwhile, Gaming Control Board Chairman Ronnie John told the Louisiana Illuminator that Mattress Mack had thanked the state for “the opportunity to win big.”
Since the Supreme Court repealed PASPA in 2018, online gambling is currently available in more than 35 states, with 18 of those allowing for legal online sports wagering. According to the US Census Bureau, those jurisdictions represent more than 166.9 million people.
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