Louisiana sports betting posts $234.5m August handle
August betting rose significantly when compared to activity last year within the state.
The Louisiana Gaming Control Board has published its online and retail sports betting revenue results for the month of August.
The state took in a combined total of $234.5m in wagers during August. Last month’s handle represented a nearly 52% boost in wagering activity year-over-year.
Last month, Louisiana posted a $218.2m mobile sports betting handle. Retail locations reported a total handle of $16.3m for August.
Mobile sports betting handle was up 57.1% when compared to results posted during August 2023. The state’s retail handle also reported a year-over-year increase last month, which rose by 8.2%.
During August, net proceeds from online sports betting reached nearly $22.7m, while another nearly $2.7m came from retail sports wagering locations.
Last month, Louisiana sports betting paid the state close to $3.7m in taxes.
In other Louisiana news, a statewide ban from prop betting on college athletes through licensed sportsbooks recently took effect. The state said that the ban was issued “for the safety and integrity of athletes.”
Louisiana instituted the ban on August 1, starting at 8am. 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.
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 bets, players bet 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, more than 35 states have established legal and regulated sports betting markets.
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