Louisiana Sets New Sports Betting Record in November

Louisiana's sports betting scene has been on an upward trajectory, and November's figures are a testament to its popularity. The $356.5 million wagered in November surpassed the previous record set in October 2022 by a remarkable 15.5%. Additionally, it represented a substantial 32.7% increase compared to November of the previous year.

Online sports betting continues to dominate the market, with consumers contributing $322.9 million to the impressive November total. Retail sportsbooks also played their part, accounting for an additional $33.5 million in bets.

While the betting handle reached new heights, the revenue figures for November did not quite mirror this success. The total revenue from both online and retail wagering amounted to $19.4 million, falling significantly short of the record set in October 2023, which stood at $43.3 million. 

Despite the revenue dip in November, Louisiana's year-to-date performance remains strong. The total sports betting spend for the first five months of the year, ending in November, reached an impressive $1.23 billion. Online wagering accounted for $1.11 billion of this total, with retail contributing $124.5 million. In terms of revenue, $138.3 million was generated during this period, with online betting leading the way at $124.1 million and retail bringing in $14.2 million.

Louisiana's sports betting industry is undoubtedly thriving, with November's record-breaking handle demonstrating the enthusiasm of bettors in the state. Despite revenue fluctuations, the overall performance in 2023 remains impressive, solidifying Louisiana's position as a key player in the sports betting market.