As known from:
The SunFootball365Sportskeeda
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Contains commercial content
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Betting.net / Mixed Fortunes For Louisiana’s Sportsbooks In Summer 2023

Mixed Fortunes For Louisiana’s Sportsbooks In Summer 2023

Publish Date: August 24, 2023
Fact checked by: Alyx Tzamantanis
Key Points
  • LA sportsbooks enjoy handle boost
  • Revenues slide compared to 2022
  • More people betting online

Louisiana Flag Sportbook News

July 2023 proved to be another unpredictable month for Louisiana’s online sportsbooks. While there was a marked increase in the overall sports betting handle, the brand’s revenues actually took a modest dip. Plus with some of the licensed online sportsbooks set to shut up shop, it looks like things could be getting very interesting for sports betting in the Pelican State.

Sports Bonus
4.6/5
Bet365
Sports Bonus
4.6/5
Bet $1 & Get $365 in Bonus Bets
Free Bet
|
Go to Bet365
Get Bonus
Bet $1 and Get $365in Bonus Bets at bet365. Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+

Analysis of Louisiana’s sport betting performance in July

It’s been a summer of mixed fortunes for Louisiana’s online sportsbooks and things got no clearer when the Louisiana Gaming Control Board released its latest figures earlier this week.

This shows that the sports betting handle in the Pelican State topped $134 million in July, solidifying an overall upward trend. This represented a 14% increase upon the same month last year when only just over $118 million in sports bets were taken within the state.

But while there was an impressive growth in sports betting handle, Louisiana’s sportsbooks actually experienced a 13% fall in their revenues. This is because just over $18 million in revenues was recorded in July 2023 compared to nearly $21 million reported in July 2022. As a result, there was only just over $2 million collected in sports betting taxes last month.

Despite the negative turn in last month’s revenues, Louisiana’s online sportsbooks have actually been enjoying a successful summer in terms of their overall sports betting handle.

There was over $122 million spent on online sports bets in July 2023 which is a 19% rise compared to the same month in the previous year. The amount of sports bets taken online in June was also an increase on the previous year – largely thanks to the success of Louisiana State University in winning the College World Series.

All of this is all the more impressive considering that the summer months are usually fairly bleak times for sportsbooks given the relatively scarcity of major sporting events.

Despite this positive news, the state’s online sportsbooks experienced a shortfall of 18% in their revenues compared to the previous year. There was just over $15 million in revenues created in July 2023 which is much less than over $19 million reported during the same month in the previous year.

Analysis of these figures reveal some interesting trends. These are that parlay betting drove much of the revenues recorded by the online sportsbooks in Louisiana. This is because parlay bets accounted for $9.5 million making an impressive 60% of the total revenues last month.

The most popular sport to bet on was baseball which isn’t a major surprise considering that this was the only major professional sport type in operation over the slower months of summer. Baseball still produced an impressive $2.7 million in revenues for the Pelican State.

Charting the progress of Louisiana sports betting
Sports Betting

Sports betting has been legal across much of Louisiana since January 2022. Since that date, eight online sportsbooks have been locked in battle for control of the Pelican State.

These have displaced in-person sportsbooks as the preferred way of enjoying sports betting in Louisiana. This can be seen in the recent figures that illustrate that physical sportsbooks have experienced nearly a 20% fall in their sports betting handle compared to the same time last year.

This is because the 18 in-person sportsbooks only recorded just over $12 million in bets in July 2023 compared to just over $15 million the previous year. However, the state’s physical sportsbooks can take some comfort from the fact that their revenues enjoyed a 15% increase compared to July 2022.

The market for sports betting in Louisiana is also in a state of flux. This is because two of the eight licensed online sportsbooks are in the process of being wound down. With both PointsBet and Barstool closing their doors, it leaves things open for other major players such as FanDuel, DraftKings, Caesars, BetMGM, and BetRivers to carve up the remaining market share. What makes things all the more interesting is that WynnBet looks to be shutting up shop in several of its territories.

Conclusion – Promising signs for Louisiana’s online sportsbooks

Despite the dip in monthly revenues, Louisiana’s online sportsbooks can still enjoy what looks to be a bright future in the Pelican State. This is because more people are betting on sport than ever before, and it looks like they are increasingly taking this activity into the online domain.

Obviously, there will be operating costs for doing this with a range of promotional offers cutting into each sportsbook’s revenues. But with a new NFL season just around the corner, it looks like the Louisiana sports betting scene is looking better than ever.

Read Also
Draftkings And Fanduel Battle For Control On NY Sports Betting Market
The battle between DraftKings and FanDuel for supremacy in the New York ...
Nevada Enjoys Bounce In Sports Betting Revenues
Nevada posted a year-on-year increase of 36% in sports betting revenues during ...
BetMGM Promo
Positive Trends For Sports Betting In Pennsylvania
It’s been yet another great month for sports betting in Pennsylvania. Recently ...
Michigan Sees Slips In Sports Betting Revenues And Handle In June 2023
June proved to be a tricky month for online sportsbooks in Michigan. ...
Louisiana Sees 21% Boost In Betting Handle Compared To Last Year
Recently released figures showed that Louisiana enjoyed a 21% boost in its ...
Sportsbook of the month
PointsBet - Get your Bonus Bet now! Get your Bonus Bet now!
Latest News
Las Vegas adult venue steps in after recent MGM cyberattacks
Amid the turmoil caused by recent cyberattacks at ...
Over $20 Billion In Revenues Since Legalization Of Sports Betting
Legal sports betting has only been in existence ...
Draftkings And Fanduel Battle For Control On NY Sports Betting Market
The battle between DraftKings and FanDuel for supremacy ...
Kansas Records $1.85 Billion Of Bets In First Year Of Sports Betting
It’s been a successful first year of operation ...
Las Vegas hotel manager allegedly embezzles $773k in fake refund scheme
Brandon Rashaad Johnson, a former Las Vegas strip ...
Top Betting Sites
Top Betting Bonuses
Bet365
Bet365
Bet365 Review
4.6/5
Caesars
Caesars
Caesars Review
4.6/5
PointsBet
PointsBet
PointsBet Review
4.5/5
BetMGM
BetMGM
BetMGM Review
4.5/5
Unibet
Unibet
Unibet Review
4.5/5
Bet365
Bet365 Bonus
Bet $1 & Get $365 in Bonus Bets
T&Cs apply
4.6/5
Bet $1 and Get $365in Bonus Bets at bet365. Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Caesars
Caesars Bonus
Bet $50 Get $250 in Bonus Bets
T&Cs apply
4.6/5
PointsBet
PointsBet Bonus
5 x $50Bet Credits
T&Cs apply
4.5/5
BetMGM
BetMGM Bonus
up to $1,500 back in Bonus Bets
T&Cs apply
4.5/5
Unibet
Unibet Bonus
$100 Second Chance Bet
T&Cs apply
4.5/5
21+ and physically present in VA only. Terms & Conditions apply. If you or someone you know has a gambling problem, please call, text or chat, VA Council on Problem Gambling on their confidential and toll free helpline at: 1-888-532-3500.
Get the latest updates in Sports and Casino via our Newsletter
Poker & Bingo

Full coverage of poker and bingo, from reviews of providers to guides and much more besides!

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Move to Top
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$25 No Deposit + 250,000 Gold Coins + 5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: BETCRYPTO
  • Drake loves this social casino!
  • Play for free with Gold Coins!
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site