Louisiana sports betting handle reached $134.7 million in July, keeping a good trend moving forward.
Despite the year-over-year boost in handle, sportsbook revenue faced a 13% decline in July 2023 ($18.2 million) compared to the same month last year ($20.9 million.)
The Pelican State collected $2.1 million in monthly sports betting taxes.
Summer sports betting in Louisiana
It has been a positive summer for online Louisiana sports betting handle. Sports bettors spent $122.5 million online in July 2023, compared to $103.3 million in July 2022, a 19% increase.
June also produced annual handle gains, aided by Louisiana State University winning the College World Series.
The summer months typically produce lower handle figures with fewer events on the sports betting calendar.
Online revenue dips in July
With a hold just shy of 13%, online sportsbooks in Louisiana produced $15.6 million in revenue.
It is down 18% from the $19.2 million LA sports betting apps generated in July 2022. Both numbers strongly outpace Nevada’s historical average of 5.4%.
Parlay profits for online Louisiana sportsbooks
As usual, parlay bets were the most profitable bet for online sportsbooks in Louisiana last month.
The popular bet type accounted for $9.5 million, or 60%, of operator revenue in July.
Baseball, the only major professional sport in action during the summer, provided $2.7 million in online revenue for sportsbooks.
In-person Louisiana sports betting
In-person sportsbooks experienced a nearly 20% drop in year-over-year handle as online sports wagering grew.
The state’s 18 retail sportsbooks combined for $12.2 million in July bets, down from $15.1 million in July 2022.
Revenue landed near $1.9 million in July. It is a 15% increase over July 2022, when the state’s in-person sportsbooks produced $1.6 million.