Louisiana online sports betting handle tops $211M in first full month

The Louisiana Gaming Control Board reported its online sports betting financial result after its first full month of operation. The six online sports betting operators took in $211 million in bets during February, and reported net proceeds of $16 million, which resulted in $2.2 million for the state, representing a 7.9% hold.

In total, the Gaming Control Board reported $238.4 million in total handle for the state, with retail sportsbooks reporting $27 million in February. The total taxes paid to Louisiana was about $2.35 million.

Six sportsbook operators launched in Louisiana on Friday, January 28, when the online sports betting was launched. Barstool Sportsbook, BetMGM Louisiana, BetRivers, Caesars Sportsbook, DraftKings and FanDuel were all operational during February. In the four days operators were live in January, the sportsbooks took in more than $40 million in bets. 

Football was the highest-grossing sport for online operators, bringing in more than $9.8 million in February. Basketball followed with $5 million and parlay bets accounted for $4.4 million.

The Louisiana sports betting market continues to grow as brands such as Sporttrade and FuboTV announce their entrance to the state through alliances with currently operational companies such as Penn National Gaming and Caesars Entertainment. 

Sportsbooks in the state continue to enhance their offerings such as Barstool, which has finally opened its long-awaited retail sportsbook in L’Auberge Lake Charles earlier this week.