As Louisiana’s sports betting landscape continues to evolve, recent figures indicate a shift in the growth trajectory of the market. In January 2023, the state witnessed a significant surge in sports betting revenue, amassing a monthly total 22.7% higher than the $282.3 million reported in January of the previous year. Despite this year-over-year growth, the January figure fell short by 8.1% compared to December’s all-time high of $377.0 million, suggesting the growth curve is leveling out after several months of consecutive records.
A more detailed look into the January data reveals that out of the total bets placed, a staggering $317.8 million were attributed to online betting activities, while $28.5 million were made at brick-and-mortar retail sportsbooks. This disparity underscores the dominant role of online platforms in the Louisiana betting economy.
Revenue reports are also telling of the expanding market, with the Louisiana market as a whole experiencing a significant 72.1% increase compared to the same time last year, reaching $38.9 million. However, January was not without its setbacks, as revenue figures experienced a 30.3% drop from December’s record haul, aligning with the trend seen in the overall betting volume.
Notably, online betting remained a major contributor to the January revenue figures, generating the entirety of the $317.8 million. Retail sportsbooks, while smaller in scale, still managed to garner $28.5 million for the month. In terms of taxation, January saw the state collect a sum of $5.7 million in taxes from sports betting, out of which a substantial portion – $5.3 million – originated from online betting, and $340,385 came from retail venues.
Analyzing the state’s performance from a broader perspective, the figures from the first seven months—including the January totals—paint a positive picture. The handle reached $1.96 billion, comprised largely of $1.77 billion from online betting and $185.1 million from retail sportsbooks. Revenue within this seven-month window echoed this trend, with a collective $233.1 million generated, including $211.1 million from online channels and an additional $22.0 million from retail betting.
Louisiana’s online sports betting scene is currently hosted by an array of 10 prestigious operators. This market includes industry giants such as ESPN Bet, Bet Rovers, BetMGM, Caesars, DraftKings, FanDuel, PointsBet, Betway, Bet365, and the newcomer ClutchBet. The latter, owned by BlueBet Holdings, marked its entry into the Louisiana market at the tail end of January and continues to expand its footprint, already operating in states like Iowa and Colorado.
Another recent entrant to the Louisiana betting arena is Bet365, which launched its operations in November of the previous year through a partnership with Boyd Gaming-owned Amelia Belle, a riverboat casino based in Amelia, Louisiana. This collaboration extends Bet365’s presence to the Pelican State, bolstering its national gaming reach.
As the data suggests, although January saw a slight downturn from the record-breaking performance in December, the overall health of Louisiana’s sports betting market remains strong. With newcomers like ClutchBet and evolving partnerships like Bet365’s, it is evident there is still room for growth and diversification within the industry. Looking ahead, stakeholders and observers will be watching closely to see how these fluctuations translate over the longer term and what impact they will have on the state’s burgeoning sports betting sector.
