Louisiana Sports Betting Industry Development: Analysis of May Indicators
Date: 2024-06-25 Author: Kirill Zagoruyko Categories: SPORTS BETTING
In May 2024, Louisiana's sportsbook industry experienced significant growth in both the mobile and retail segments, marking important changes in sports betting in the region.
Mobile betting remains the leader in the industry: the number of bets concluded in this segment reached 238,268,987, which is 34% higher than last year. Net mobile betting revenue was $31.2 million, up 22.4% year-over-year.
Retail Bookmakers
Retail bookmakers also showed significant activity, with a total of 18,391,010 bets placed for the month. Although this number is lower compared to mobile rates, it is noticeable that ad spend in this segment decreased to $18,719, which is a significant decrease compared to the previous period.
Basketball was the most profitable sport to bet on in May 2024, generating $2.1 million for the industry. However, football remains the leader in the number of bets placed at retail outlets.
General Trends and Prospects
Net sports betting revenue was down 23.7% year-over-year, but strong growth in mobile betting shows the segment's promise. Late last year, Louisiana recorded record sports betting volume, reaching $356.5 million, highlighting the region's dynamic betting market.
Analysis of May data confirms increased interest in sports betting in Louisiana, highlighting mobile technology and the popularity of various sports. Further development of the industry and the introduction of new technologies promise continued positive dynamics in the next reporting periods.
Mobile betting remains the leader in the industry: the number of bets concluded in this segment reached 238,268,987, which is 34% higher than last year. Net mobile betting revenue was $31.2 million, up 22.4% year-over-year.
Retail Bookmakers
Retail bookmakers also showed significant activity, with a total of 18,391,010 bets placed for the month. Although this number is lower compared to mobile rates, it is noticeable that ad spend in this segment decreased to $18,719, which is a significant decrease compared to the previous period.
Basketball was the most profitable sport to bet on in May 2024, generating $2.1 million for the industry. However, football remains the leader in the number of bets placed at retail outlets.
General Trends and Prospects
Net sports betting revenue was down 23.7% year-over-year, but strong growth in mobile betting shows the segment's promise. Late last year, Louisiana recorded record sports betting volume, reaching $356.5 million, highlighting the region's dynamic betting market.
Analysis of May data confirms increased interest in sports betting in Louisiana, highlighting mobile technology and the popularity of various sports. Further development of the industry and the introduction of new technologies promise continued positive dynamics in the next reporting periods.
