Sports News
| Published On Oct 22, 2024 7:06 am CEST | By Daniel Li

Louisiana Sees Major Growth in September Sports Betting Revenue

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The sports betting revenue data for September, which were made public by the Louisiana Gaming Control Board, indicate a notable increase in both online and retail channels. The state reported $351 million in wagers for the month, representing a roughly 30% increase in activity over the previous year.

With a total handle of $320 million, up 28.6% from the same time last year, mobile betting experienced significant improvements. With a $31.6 million transaction, retail sportsbooks also made a contribution. This represents a 1.3% increase from the previous year.

Strong Revenue and Tax Contributions

In September, Louisiana’s online sports betting net proceeds reached nearly $47.2 million, while retail locations contributed close to $5.3 million. As a result, the state collected approximately $7.7 million in taxes from sports betting during the month. This growth demonstrates the expanding popularity of both online and in-person sports betting options across the state.

Earlier this year, Louisiana introduced a ban on prop betting for college athletes through licensed sportsbooks. The move aimed to “protect the safety and integrity of athletes,” according to the state. Despite the ban on individual player props, bettors can still place wagers on point spreads, game outcomes, and team-based statistical outcomes. The ban does not affect prop bets involving overall team performance.

Louisiana has established a legal, regulated sports betting market, joining more than 35 other states in doing so since the Supreme Court overturned the federal ban on sports betting in 2018. The consistent rise in gambling activity is a reflection of how sports betting is becoming more and more popular nationwide, especially in states with a large selection of betting options.

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Daniel Li

A day trader in cryptocurrencies and avid sports bettor himself, Daniel decided to join the team and share his expertise with the iGaming.org audience. Areas of interest are global crypto regulations and the adoption of cryptocurrency use in the world. Daniel loves to work hard and write “how to guides” related to sports betting to share his take on various topics.

Tags: Louisiana