October was a record-setting month for sports betting in Louisiana, with players spending a total of $308.6 million on sports wagering, marking a significant increase from the previous month. Online betting accounted for the majority of the total handle, with $276.2 million spent, while $32.4 million was bet at retail sportsbooks in the state. This surge in sports betting activity contributed to a 20.8% increase from the previous year’s handle and a 10.2% increase from September 2022.
The increase in betting activity also led to a new revenue high, with gross revenue reaching $43.3 million in October, surpassing the previous record of $43.1 million set in September. Of this total, online gross revenue accounted for $40.1 million, while retail gross revenue was $3.3 million. After adjusting for promotional bets, the total market revenue was $42.5 million, with Football betting generating the most revenue, followed by baseball betting.
Year-to-date, the total handle in Louisiana for the first four months of the financial year was $877.4 million, including $786.4 million in online bets and $91.0 million in retail wagers. The adjusted revenue for this period reached $118.9 million, with a majority coming from online bets.
Overall, the surge in sports betting activity in Louisiana in October signals a growing trend in the state’s sports wagering market, as players continue to embrace online and retail sports betting options. With the year-to-date handle nearing $1 billion, the state’s sports betting industry is experiencing substantial growth and is poised for a strong finish to the year.