Louisiana Sportsbooks Ratchet Up Win Rate in July as Handle Falls – Covers

The Louisiana Gaming Control Board heard on Monday that retail and online sportsbooks in the state accepted a combined $118.3 million in wagers last month, down more than 10% compared to June.

Last Updated: Aug 22, 2022 3:31 PM ET Read Time: 1 min

Sports betting in Louisiana was a quieter affair in July same as everywhere else in the United States but online operators wound up winning a whole lot more.

The Louisiana Gaming Control Board heard on Monday that retail and online sportsbooks in the state accepted a combined $118.3 million in wagers last month, down more than 10% compared to June.

Louisiana's 17 retail sportsbooks, sprinkled across the state at casinos and racetracks, took almost $15 million in bets during the month. The seven online sportsbooks in the state handled the lion's share of action, registering $103.3 million in wagers.

Yet revenue from legal sports betting in Louisiana shot up to $20.6 million for July, nearly double the $10.65 million won in June and good for a hold of around 17.4%.

Online sports betting only legally launched in Louisiana in late January, so there is no year-over-year comparison for Julys action. However, its safe to say that July which had no NFL football or NBA playoffs definitely qualified as the offseason for bookmakers.

Historically, as I've done some reading across the country, July is a slower month for sportsbooks, Louisiana Gaming Control Board Chairman Ronnie Johns said during Mondays meeting. So the win ratio being up we generated more money for the state and for local government for early childhood education.

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Louisiana Sportsbooks Ratchet Up Win Rate in July as Handle Falls - Covers