Sportsbooks See Increase in Louisiana Sports Betting Revenue This July

In the latest gambling news, we are taking a look at the south of the US, as sportsbooks see an increase in Louisiana sports betting revenue, despite recording less wagers in July. While the idea of higher revenue and lower handle seems odd, it is something we see, and feature, quite regularly in this bookie pay per head blog.

The total monthly sports betting handle in Louisiana is $134.8 million, which is 15.8% lower than June’s handle. The summer season has been quite slow for operators in the state. Bookies who tend to go for a wider player base- offering international wagering with bookie software like PricePerPlayer.com, tend to fare better. In addition to having more customers and betting options, players can also easily check the online casino and racebook that your bookie software offers.

 

Increase in Louisiana Sports Betting Revenue and Handle May Continue in Coming Months

Even if there is a dip in handle, revenue is actually doing better with $17.5 million. This is quite the jump 40% to be exact, which gives sportsbooks more income this month. The reason for this is largely due to the 13.1% hold percentage. If you are looking at a cohesive marketing strategy for sports betting sites, however, you cannot rely on the hold percentage. You will really want to get more action, therefore increasing the handle, potentially increasing revenue.

Louisiana is quite a popular state for sports betting. The sportsbooks in the area are close to collecting $4 billion in handle in total, with around $400 million in gross revenue. For the month of July, online wagers come in more frequently than retail wagers. There is an 18.6% year-on-year increase in the handle at $122 million, with $15.7 million in revenue.

As to where residents are placing their wagers on, baseball is, of course, the summer sport when it comes to betting. $2.9 million of the monthly revenue comes from baseball betting. Soccer is second at $664,000, and basketball betting comes in at $500,000. Football is just below basketball in terms of revenue. But we may see the sport climb up the ranks in the coming months when the NFL regular season starts in September.

 

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