The record-breaking November handle in sports betting surpassed the previous high of $308.6m set in October 2023 by 15.5%. This growth shows the increasing popularity of sports betting in Louisiana. Additionally, the November handle was 32.7% higher than the previous year’s figure of $268.6m. Consumers spent $322.9m on online betting during November, and an additional $33.5m at retail sportsbooks.
However, despite the higher spending, the state’s revenue did not match up. Louisiana’s November revenue fell short of the record total achieved in October. Revenue from both online and retail wagering in November amounted to only $19.4m. While this is a significant improvement from the previous year’s loss of $25.6m, it still falls considerably short of October’s revenue record of $43.3m. Breaking it down, online betting generated $18.1m in revenue, while retail betting contributed $1.3m. Deductions were made for promotions, with $9.8m deducted from the online total and $13,962 from the retail figure.
The sport of choice for online betting in Louisiana during November was football, which brought in $4.5m in revenue. Basketball led the way for retail betting with revenue of $484,614.
Looking at the year-to-date performance, the total sports betting spend for the first five months of the year, up until November, was $1.23bn. This includes $1.11bn from online wagering and $124.5m from retail. The total revenue generated in this period was $138.3m, with $124.1m coming from online betting and $14.2m from retail.
