Key points:
- Sports betting wagers rose by nearly 38%
- Its handle exceeded $400m last month
The Louisiana Gaming Control Board has published its October online and retail sports betting revenue reports.
The state took in a combined total of $401.7m in wagers last month. October's combined sports wagering represented a nearly 38% increase in wagering activity year-over-year.
Last month, Louisiana posted a $368.3m mobile sports betting handle. Retail locations reported a total handle of $33.6m for October.
Mobile sports betting handle was up 33.3% when compared to results posted one year ago. The state’s retail handle also reported a year-over-year increase last month, which rose by 3.7%.
During the month, net proceeds from online sports betting reached nearly $41m, while another nearly $0.5m came from Louisiana’s retail sports wagering locations.
Last month, sports betting paid the state close to $6.2m in taxes.
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.
During the 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.”
Good to know: The ban took effect August 1
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.”
