Louisiana posts $383m January sports betting handle
Bets last month were lower than wagers in December.
Key Points
- The state collected $5.8m in taxes during the month
- Both online betting reported year-over-year growth last month
The Louisiana Gaming Control Board has published its online and retail sports betting revenue reports for the month of January.
Last month, the state took in a combined total of nearly $383m in bets from its online and retail sports betting operators. Online activity during January rose by 11.7% year-over-year, while retail locations reported a 2.1% decline in activity when compared to the previous year.
However, bets placed in January fell by $7m month-over-month.
Last month, Louisiana posted a $355m mobile sports betting handle. Retail locations reported a total handle of $28m for the month.
January net proceeds from online sports betting reached close to $38.3m, and Louisiana sports betting retailers reported $2.5m in net proceeds during the month.
Last month, sports betting paid the state $5.8m in taxes.
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 was implemented on 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 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.
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