The sports betting landscape in the United States showed a mixed picture in April, with notable growth in Louisiana, paralleled by a significant decline in New Hampshire. Players in Louisiana increased their contributions to the sports betting industry, leading to higher revenues, while New Hampshire experienced a decrease, marking a contrasting scenario between the two states.
In Louisiana, players spent a considerable amount on sports betting, resulting in an impressive handle amounting to $283.0 million. This figure signifies a 34.8% increase compared to the same period last year. However, it was a noticeable 19.1% drop from March’s total of $350.0 million. The bulk of the player spending, amounting to $263.2 million, was channeled towards online sports betting in April, with an additional $19.8 million being wagered at retail sportsbooks. Such substantial participation in the online betting sector underscores the growing trend and preference for digital platforms among bettors.
Revenue for April in Louisiana came in strong at $33.0 million, showcasing a 49.3% rise from the previous year. Interestingly, the revenue was only slightly behind March’s figure of $33.8 million, dropping by a marginal 2.4%. This near-stable revenue performance, even with a drop in handle from the prior month, indicates a resilient market. Moreover, the state was able to collect a commendable $5.4 million in taxes for the month, with the predominant share coming from the online betting sector.
Looking at the financial year to date, the numbers continue to paint an optimistic picture for Louisiana. Over the ten months leading to the end of April, total player spending soared to $2.86 billion. A substantial portion of this, $2.61 billion, was spent online, while $257.2 million was placed in retail sportsbooks. In terms of revenue, the state amassed a total of $328.4 million for the year to date. This figure includes an impressive $302.2 million from online revenue and $26.2 million generated from retail betting locations. Such data reinforce Louisiana’s robust sports betting market, largely driven by the online segment.
Contrastingly, the situation in New Hampshire was not as favorable in April.
. Player spending on sports betting was significantly lower, amounting to $59.8 million. This marked an 8.1% decrease from the previous year and an 18.0% drop from March’s total of $72.9 million. Additionally, April witnessed the lowest monthly spend since August of the previous year when only $38.8 million was wagered. This drop is indicative of the challenges faced by the state’s sports betting market.
Breaking it down further, player spending on online betting in New Hampshire amounted to $53.5 million, with a mere $6.3 million wagered at retail sportsbooks. The preference towards online betting remained clear, but the overall reduced spend indicated a downward trend.
Revenue figures further highlighted the downturn in New Hampshire. In April, the state registered revenue of $5.3 million, a significant 21.0% decrease from last year, and 5.4% less than the $5.6 million reported in March 2024. The revenue from retail betting locations was notably low, generating just $23,173, indicating the dominance of the online market in the state’s betting ecosystem.
New Hampshire collected $2.3 million in taxes for April, with the overwhelming majority being sourced from online betting activities. For the financial year to date, total spending summed up to $645.7 million. Out of this, $565.2 million was wagered online, while retail sportsbooks accounted for $80.4 million. Regarding revenue, the state’s total stood at $65.0 million, which included $58.7 million from online betting and $6.4 million from retail.
In summary, April exhibited a dichotomy in the sports betting markets between Louisiana and New Hampshire. Louisiana continued to show substantial growth driven mainly by the online segment, reflecting a thriving market environment. In contrast, New Hampshire faced a regression with decreased player spending and revenue, pointing towards challenges that need addressing to stabilize and reinvigorate their sports betting landscape.
