Mobile and retail sportsbooks in the Pelican State saw net proceeds jump 40% to $17.5 million in July, despite total handle falling 15.8% month-over-month to $134.8 million,
A lower July handle than June wasn’t a bad thing for the Pelican State’s legal sports betting operators, which made out well in revenue.
Betting sites and retail sportsbooks in Louisiana saw net proceeds jump 40% to $17.5 million in July, despite total handle falling 15.8% month-over-month to $134.8 million, according to figures from the Louisiana Control Board.
It’s been a slow summer for operators, but handle is up 14% yearly, and July represented room for growth. The Pelican State’s 13.1% hold jumped more than five points month-over-month, and Louisiana hauled in $2.2 million in taxes — up more than $90,000 from June.
Louisiana sports betting has generated more than $400 million in gross revenue and is closing in on $4 billion in wagers all time.
Mobile/retail split
Online wagering rose 18.6% year-over-year in July as the handle went over $122 million. Mobile revenue, which made up $15.7 million of total net proceeds, was helped by a considerable drop in promotional deductions, which fell from $1.1 million to $658,802.
Brick-and-mortar sportsbooks saw their handle fall 19.4% year-over-year, but monthly adjusted revenue increased from $1.1 million to $1.9 million month-over-month. The win rate exceeded 15% in July.
Parlays rule the Pelican State
Sportsbook operators dominated bettors in parlays, earning $10.7 million, or 59%, of the total gross revenue. That’s up from June’s $9.8 million from parlays.
Baseball dominated the landscape in terms of individual sports, bringing in $2.9 million in net proceeds. Soccer was second with over $664,000, and basketball topped $500,000 while football just missed out on that mark. All of the other sports combined for just under $2 million.
