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The sports betting income data for August were revealed by the Louisiana Gaming Control Board, and they show remarkable increase. The state had a $234.5 million total wager handle for the month, a noteworthy approximately 52% increase in wager handling from the previous year.
Mobile sports betting in Louisiana brought in $218.2 million in August, a significant increase of 57.1% over the same month the previous year. The total handle was $16.3 million from retail outlets, representing an 8.2% increase in retail wagering from the previous year. When taken as a whole, these numbers show a strong trend in both retail and online betting.
Net proceeds from online sports betting reached approximately $22.7 million, while retail sports wagering generated nearly $2.7 million. Additionally, Louisiana’s sports betting activities contributed close to $3.7 million in taxes to the state last month.
In other news, Louisiana has implemented a statewide ban on prop betting involving college athletes. This ban, effective August 1 at 8 AM, aims to protect the safety and integrity of athletes. However, bettors can still place wagers on totals, point spreads, and game outcomes. Prop bets focusing on “full team statistical outcomes” will remain legal.
Prop betting usually lets players place bets on particular performances, such how many points or rebounds a basketball player gets, or how many yards a football player gets. These wagers frequently accompany conventional game results or spreads.
More than 35 states have launched regulated sports betting markets since the Supreme Court’s 2018 decision to repeal PASPA, indicating a rising trend in the United States.