Louisiana’s Sportsbook Revenue Hits $31.2 Million in May 2024
Data from the Louisiana Gaming Control Board reveals that mobile sportsbooks handled a substantial 238 million wagers, marking a 34% increase from the previous year.
Increase in Mobile Betting Revenue
Promotional expenditures for mobile betting were notably reduced in May, totaling $1.2 million, which is a 70% decrease from the previous month.
The net revenue from mobile sports betting reached $31.2 million, reflecting a 22.4% rise compared to May 2023.
Basketball emerged as the top sport for mobile betting in May, generating $2.1 million in revenue. This preference indicates basketball’s strong appeal among bettors in Louisiana.
Performance of Retail Sportsbooks
Retail sportsbooks also contributed to the overall betting activity, with 18 million wagers placed in May 2024. Although this figure is significantly lower than that of mobile wagers, it remains an essential part of the state’s sports betting ecosystem.
In the retail segment, promotional deductions were minimal, amounting to just $18,719.
Despite a general increase in betting activity, net proceeds from retail sportsbooks decreased by 23.7% compared to the previous year. Soccer was the most popular sport for in-person bets, indicating a shift in betting preferences among retail customers.
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