Rounding up some of the latest gambling figures in the US, Louisiana reported a year-on-year rise in sports betting revenue and handle despite a decline in the retail market during its 2023-24 financial year, while Mississippi saw player wagers fall in June.<\/p>\n
Starting in Louisiana, players staked $3.33bn, an increase of 32.1% figures from the state Gaming Control Board show. Of this, $3.04bn was bet online, a rise of 37.2%, and $291.7m at retail sportsbooks, down 5.0%. <\/p>\n
After promotional spend something that skewed Michigan sports betting figures in June of $44.4m, net revenue from sports betting came to $388.1m, up 58.3% on the prior year. <\/p>\n
Mobile betting accounted for $358.2m of the total (a rise of 73.2%) although retails $29.9m contribution was down on the prior year. Mobile launched in January 2022, months after the first retail bets were placed in October 2021. <\/p>\n
American football was the sport that generated most revenue across online ($30.1m) and retail ($3.5m). However, parlay bets saw the most revenue for both channels (online $251.2m, retail $19.4m). <\/p>\n
Win percentage for online betting in FY2023-24 was 11.8% and retail 10.2%. In addition, total tax from sports betting in Louisiana hit $55.2m, with $55.2m coming from online and $3.0m retail. <\/p>\n
Turning to June, total handle in June was $212.0m. This is 30.8% higher than $162.1m last year but 17.4% less than $256.7m in May this year. Online spend topped $195.8m, up 34.4%, while retail wagers climbed 12.5% to $16.2m. <\/p>\n
Online betting win percentage reached 12.7% for the month, with retail at 8.7%. <\/p>\n
Revenue for the month hit $26.2m, up 109.6% on last year but 21.8% lower thanMays $33.5m. This continues a trend in which June normally a quieter month outperforms the prior year, something thats clear from all state results published to date. <\/p>\n
Online revenue hit $24.8m, up 118.8% but retail revenue slipped 21.9%. Only two months in the whole of FY2023-24 saw year-on-year retail revenue growth: July and September. <\/p>\n
Parlay betting reigned supreme, as it does in many other states, generating $15.6m in online revenue and $594,920 retail revenue. <\/p>\n
In terms of individual sports, basketball made up the most online revenue in June at $3.0m although, in the retail market, it was baseball that led the way with $249,449. <\/p>\n
As for tax, this hit $24.9m, with $24.8m coming from online and retail $115,955. <\/p>\n
Elsewhere in June,Mississippi Gaming Commission figuresreport a 5.6% year-on-year increase in sports betting revenue to $1.9m. This, however, was lower than the $2.1m reported onMay this year. <\/p>\n
Spending-wise, handle for June topped $19.4m, down 4.9% from last year, with the market limited to in-person wagering. This suggests a hold of 9.8% across all operators. <\/p>\n
Coastal casinos drew the most revenue at $1.0m off a $12.1m handle. Baseball was the most popular sport with $233,105 generated from $2.9m in bets. Parlay cards have been a leading product in other states, but accounted for just $361,551 worth of revenue off $2.2m in stakes in the region. <\/p>\n
Total revenue from central casinos was $596,110 from handle of $5m. Here, basketball was the single sport moneymaker with $913,093 in bets generating $222,338 in revenue, a 24.3% hold. However, baseball still drew the most bets at $1.5m with the MLB season under way. <\/p>\n
Finally, revenue at northern casinos was $313,547 off $2.2m in bets. <\/p>\n
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US round-up: online growth drives Louisiana in FY, mixed June for Mississippi - iGaming Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Rounding up some of the latest gambling figures in the US, Louisiana reported a year-on-year rise in sports betting revenue and handle despite a decline in the retail market during its 2023-24 financial year, while Mississippi saw player wagers fall in June. Starting in Louisiana, players staked $3.33bn, an increase of 32.1% figures from the state Gaming Control Board show. Continue reading