The sports betting industry in Louisiana has achieved a record-breaking month according to Casino.org.
Posted on: October 31, 2023, 01:13h.
The most recent update was made on October 31, 2023 at 08:36 AM.
Sports betting in Louisiana had a successful month in September, with sportsbooks earning record revenue and tax revenue from sports betting in the state.
The Louisiana Gaming Control Board stated that the total revenue from sportsbooks, including both mobile apps and physical locations, was approximately $41.8 million. This surpasses the previous record of $37 million set in December 2022. Additionally, the state earned $5.3 million in tax revenue from sports betting, exceeding the previous record of $4.4 million from December 2022.
The figures were not surprising, as it was anticipated that college and professional football would increase the monetary figures.
Ronnie Johns, the chairman of the Louisiana Gaming Control Board, stated during the board’s October meeting that football, both college and NFL, holds great significance in the world of sports betting. He expressed the board’s intention to closely monitor and analyze the numbers associated with these events.
According to the LGCB, approximately $280.1 million was bet in Louisiana through both physical and digital means. This marks the second-highest amount wagered in a single month since sports betting was introduced in 2021.
Mobile sports betting has reached its highest point to date.
In September, the nine mobile operators in the state saw a 44% increase in sports betting, reaching a total of $248.8 million. This is approximately $110 million higher than the previous month, resulting in a 447% increase compared to the same time last year. The net proceeds from these bets amounted to around $36 million.
During the LGCB meeting, Donna Jackson, a supervisor in the Louisiana State Police’s gaming audit section, stated that this is the largest monthly amount generated by mobile sports betting since it began.
In February 2022, mobile sports betting was introduced.
There was a 0.8% decrease in wagers at the state’s 18 retail sportsbooks, but net proceeds increased compared to the previous year. The total amount of wagers was $31.2 million, while net proceeds were $5.7 million.
Shout Out for Queen Casino After its Move
Chairman Ronnie Johns of the Louisiana Gaming Control Board also emphasized a noteworthy increase in profits for the Queen casino located in Baton Rouge.
According to Casino.org, the Queen of Baton Rouge saw a significant increase in its gaming earnings in September. This was due to a successful first month of operation as a land-based casino, following the move from a riverboat.
I would like to extend my congratulations to the Queen in Baton Rouge for completing their first month, which was incredibly successful. This is a clear demonstration of the potential of land-based properties. One noteworthy statistic is that they boosted the Baton Rouge market by nearly $3 million compared to the previous year, proving that they did not take away from any other businesses.
On August 24, the Queen made an appearance.
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