Louisiana Sports Betting Hits Record Highs, but Growth Slows in January
Date: 2024-02-21 Author: Dima Zakharov Categories: SPORTS BETTING
Louisiana's Betting Landscape
In January, Louisiana witnessed a surge in sports betting activity, with a total wager of $346.3 million. While this marked a notable increase from the same period last year, it fell short of December's record-breaking figure, halting three consecutive months of growth.
Online Dominance
Of the total bets placed, a significant portion—$317.8 million—was made online, highlighting the growing dominance of digital platforms in the state's betting landscape. Retail sportsbooks accounted for $28.5 million in wagers during the same period.
Revenue Insights
Louisiana's overall market revenue showed promising growth, reaching $38.9 million, a substantial 72.1% increase from the previous year. However, January's revenue figures fell 30.3% short of December's record, signaling a potential plateau in the market.
Year-to-Date Performance
The year-to-date handle for Louisiana's sports betting market approached $2.00 billion by the end of January. Online operators contributed $1.77 billion of the total handle, while retail sportsbooks accounted for $185.1 million.
Market Dynamics
Louisiana boasts a diverse range of sports betting operators, including industry giants like ESPN Bet, BetMGM, and DraftKings. The market welcomed ClutchBet in January, expanding the state's betting options and further diversifying its offerings.
Newcomers in Focus
ClutchBet, the latest entrant into Louisiana's sports betting arena, joined the market alongside Bet365, which partnered with Amelia Belle in November. The addition of these players reflects the state's growing appeal to prominent betting brands seeking to capitalize on its burgeoning market.
