Playoff basketball may be the last big event for a few months, and it was not popular enough to bring Louisiana bettors to the sportsbooks.
Louisiana’s Gaming Control Board reported that sportsbooks in the Pelican State took in $256.6 million in bets last month, a 9.3% decline from April’s $283 million.
But unlike in April, May’s drop in handle was also accompanied by a fall in revenue. After paying out winning tickets and deducting promotional dollars, operators held 13% of the money, which is unchanged from April.
However, because the sportsbooks reduced their promotional spend, from $3.9 million to $1.2 million and the fact that the state allows operators to carryover losses, the state actually saw a larger tax bill than the month prior. The tax bill in May came to $5.7 million, up from April’s $5.2 million.
“Other” a popular category for bettors
Not surprising, parlays remained the top revenue generator for the sportsbooks, but the second best winner for the house was the “other” category which consists of golf, MMA, and hockey, among others. May’s $5.4 million is more than the last five months combined.
| Online Sports Betting Method | Revenue |
|---|---|
| Parlay | $21.3 million |
| Basketball | $2.1 million |
| Baseball | $1.8 million |
| Soccer | $643,000 |
| Football | $168,000 |
| Other | $5.4 million |
Retail enjoys slight bump
Online Louisiana sports betting usually brings in an overwhelming majority of the action, and Louisiana is no different. In May, retail wagers made up roughly 7% of the statewide handle.
That being said, there is some good news for the brick-and-mortar locations. May’s $18.3 million in bets is about 6% higher than last year’s action, and that is three straight months of year-over-year growth. Before that, the retail market’s yearly numbers were on a 15-month contraction.
And, revenue-wise, May was the best month since January.
