Louisiana Sports Betting Revenue
Sports fans in the Pelican State have started making their first wagers as Louisiana online sports betting is now live. We’re taking a deep dive into Louisiana sports betting revenue now that everything is underway.
We’ll explore possible challenges for the LA sports gambling market, as well as advantages that might help sportsbooks generate a big profit. Plus, we’ll compare the state government’s revenue projections to actual results from recent market launches elsewhere in America.
Read on for a detailed look at the sports betting industry in Louisiana.
LA Sports Betting Revenue: Month-by-Month Data
Sports Betting Dime will track Louisiana’s monthly sports betting financial reports closely to provide up-to-date insights and analysis.
|Month/Year||Betting Handle||Revenue||Hold Percentage||State Tax Revenue|
|Total (Since Launch)||$628,289,580||$53,798,568||8.6%||$7,308,341|
Latest LA Revenue News
Check back here for the latest revenue-related news from Louisiana.
March 2022: Louisiana sports betting revenue hit new highs in March 2022, as sportsbooks profited $30,140,818 from $232,730,341 in total wagers. These figures were driven by an increased interest in March Madness, along with the New Orleans Pelicans’ push to the NBA playoffs.
February 2022: The first full month of online Louisiana sports betting was a massive success, as a total of $238,413,596 was wagered through February 2022. This handle was driven by massive sporting events like the NFL Super Bowl, and sportsbooks profited over $17 million thanks to a 7.3% hold rate. The state collected $2,354,846 in tax revenue, which comes after these figures were relatively week in the first few months of retail-only sports betting in Louisiana.
January 2022: After launching eight retail locations in late October, Louisiana reported a total handle of $27.6 million in the first full month of wagering through November 2021. Online Louisiana sports betting went live in late January, and the state pulled in a total of nearly $90 million in wagers.
June 2021: Gov. John Bel Edwards signs Louisiana House Bill 697, which outlines the tax rate and licensing fee structure for sports betting. Revenue from retail sportsbooks will be taxed at a rate of 10 percent, while revenue from mobile and online bets will be taxed at 15 percent.
LA Market Overview
To grasp Louisiana’s potential as a sports gambling market, here’s some key context to keep in mind.
State Population (2020 Census): 4,657,757
In-state Pro Teams: New Orleans Saints (NFL), New Orleans Pelicans (NBA)
Online Launch Date: January 28, 2022
Biggest Monthly Handle: $238,413,596 (January 2022)
Regulator: Louisiana Gaming Control Board
Platforms: Retail and Online (online pending)
Tax Rate: 10 percent of retail revenue and 15 percent of online betting revenue
The above table will be updated monthly when online sports betting figures are available from the Louisiana Gaming Control Board.
Louisiana Sports Betting Revenue Expectations: What Do State Officials Think?
According to the Louisiana Illuminator, a local news outlet, Louisiana state officials were unable (or reluctant) to estimate the tax revenue that sports wagering could generate.
However, the legalization campaign, Louisiana Wins, projected between $237 million and $332 million in gross sports betting revenue annually. This could result in anywhere from about $30 million to $48 million back in tax revenue each year, depending on the split between mobile and in-person wagering, which are taxed at 15 and 10 percent, respectively.
The state has released preliminary plans for how to use funds that wind up back in state coffers. The majority of revenue generated by the Louisiana Lottery itself will go towards K-12 education and programs for people with intellectual disabilities.
Tax revenue from private casinos and racetracks will be mostly unrestricted state funding, but a combined 15 percent will go to specific causes such as gambling addiction treatment, services for people with disabilities, and local government funding. 25 percent will be used to fund early childhood education. Additionally, unclaimed winning sports bets will be used to pay for medical exams for rape victims.
Sports Betting Dime will present up-to-date analysis as official Louisiana sports betting revenue reports start coming in. In the meantime, just know that the Pelican State is expected to punch above its weight and become a thriving new market.
Louisiana Sports Betting Revenue: Advantages
Louisiana lawmakers have set up an open and competitive legal sports wagering market, with plenty of licenses available for both retail and online operators. They have also implemented fewer restrictions on college sports betting than some states. You’ll be able to place wagers on in-state college sports teams such as the LSU Tigers and Louisiana Ragin’ Cajuns, for example.
Additionally, Louisiana has a thriving tourism industry and a long history of casino gambling. None of its bordering states have legal online sports betting, so Louisiana could see an influx of bettors crossing state lines to place their wagers, especially from Texas. Houston is the fourth-largest city in America and is just a two-hour drive from the Louisiana border.
When you take all of this into account, Louisiana has the makings to be one of the biggest sports betting markets on a per capita basis. The Pelican State should have no trouble outperforming its relatively small population.
Here’s a look at the top performing states in 2020 on a per capita basis:
|State||Census Population||2020 Betting Handle||Per Capita Handle|
At a minimum, we’d expect Louisiana to generate at least as much as Indiana on a per capita basis, if not quite a lot more given the draw of New Orleans as a tourist destination. Thus, we’d be shocked if Louisiana didn’t generate at least $1.2 billion in sports betting handle in its first 12 months. It has the potential to take in double or even triple that amount in the near future as the industry continues to grow in 2021 and beyond.
Louisiana Sports Betting Apps
There are a number of top-tier Louisiana sports betting apps to choose from. For quick reference, below are some of the best Louisiana sports betting apps you can start using today.
- Caesars Sportsbook Louisiana
- FanDuel Sportsbook Louisiana
- DraftKings Sportsbook Louisiana
- Barstool Sportsbook Louisiana
- BetMGM Louisiana
Learn More About Wagering on Sports in LA and Beyond
Sports Betting Dime will provide Louisiana sports betting revenue figures, along with important updates regarding rules and regulations sports bettors should be aware of.
To learn more about gambling revenues from other states, you can explore our state-by-state sports betting revenue tracker.