Posted on: October 31, 2023, 01:13h.
Last updated on: October 31, 2023, 01:13h.
Sports betting in Louisiana soared to new heights in September, breaking revenue records and generating substantial tax revenue for the state. Both mobile apps and physical sportsbooks contributed to the success.
According to the Louisiana Gaming Control Board, sportsbooks in the state generated a remarkable $41.8 million in combined revenue from mobile apps and physical locations. This surpasses the previous record of $37 million set in December 2022. Additionally, the state collected approximately $5.3 million in sports betting tax revenue, exceeding the previous record of $4.4 million, also from December 2022.
The surge in revenue was expected, given the popularity of college and professional football among bettors.
“I think it shows you what football, college and the NFL, mean to sports betting. We’re going to continue to watch those numbers,” said Ronnie Johns, the chairman of the Louisiana Gaming Control Board, at the board’s October meeting.
Data from the LGCB reveals that approximately $280.1 million in wagers were placed at retail locations and mobile apps in Louisiana. This represents the second-highest monthly total since sports betting was introduced in the state in 2021.
Mobile Sports Betting Reaches New Heights
September witnessed a staggering 44% increase in mobile sports betting for the nine operators in the state, totaling $248.8 million. This is an impressive $110 million surge compared to the previous month. Year-over-year, mobile sports betting experienced a remarkable 447% growth, resulting in approximately $36 million in net proceeds.
“This is the highest monthly total generated by mobile sports wagering since inception,” said Donna Jackson, a supervisor with the Louisiana State Police’s gaming audit section, during the LGCB meeting. Mobile sports betting was launched in February 2022.
The state’s 18 retail sportsbooks witnessed a slight decline of 0.8% in wagers, although net proceeds increased compared to the previous year. Total wagers amounted to $31.2 million, with net proceeds reaching $5.7 million.
Recognition for Queen Casino’s Successful Transition
Ronnie Johns, Chairman of the Louisiana Gaming Control Board, also highlighted the significant increase in revenues for the Queen casino in Baton Rouge.
As reported by Casino.org, the Queen of Baton Rouge nearly doubled its gaming win in September, marking an exceptional first full month of operation after transitioning from a riverboat casino to a land-based establishment.
“I want to congratulate the Queen here in Baton Rouge on their first full month, an exceptional month for them,” Johns said. “I think it just shows you what land-based properties are capable of doing. And I think the most interesting number is they grew the Baton Rouge market by almost $3 million from the prior year, so it wasn’t a matter of cannibalizing anybody else.”
The Queen officially opened its doors on August 24.