Players set another Louisiana sports betting handle record in November. They wagered $356.5 million on sports events during the month. Also, it was more than the former record of $308.6 million achieved in October 2022. Also, it is an increase of 32.7 percent year-over-year.
In November, customers wagered $322.9 million at online sportsbooks and another $33.5 million at brick-and-mortar establishments. The state’s monthly income number did not reflect the greater spending. Online and retail wagering brought in $19.4 million for November.
According to the best sports betting software, this was a vast improvement after losing $25.6 million in Louisiana last year. U.S. businessman Jim “Mattress Mack” McIngvale won many big bets on the MLB World Series in November 2022, which led to the loss.
Louisiana Sports Betting Handle
The record-breaking revenue of $43.3m set in October 2023 was also 55.2% lower than November’s figure. Regarding revenue breakdown, retail brought in $1.3 million, while internet betting brought in $18.1 million. According to pay per head reviews and news sites, discounts of $9.8 million and $13,962 were subtracted from the online total and retail figures, respectively, in the calculations.
Online betting in Louisiana brought in $4.5 million in November, with football being the most popular sport. With $484,614 in sales, basketball was the most lucrative sport in terms of retail.
In the five months leading up to November, total sports betting expenditure amounted to $1.23 billion when looking at performance for the year thus far. According to a sportsbook pay per head blog, online wagering accounts for $1.11 billion, while retail sales bring in $124.5 million. A total of $138.3m in revenue was earned during the five months. Online betting contributed $124.1 million, while retail sales brought in $14.2 million.
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