Louisiana Sports Betting Handle Drops in June

In the latest gambling industry news, the Louisiana sports betting handle drops to only $160 million in the month of June. According to the Louisiana Control Board’s report, the handle falls by 17.3% month-on-month. The drop in handle is similar to what we are seeing in other states as we move into the summer months. If you are to open an online sportsbook, then you need to know your sports calendar to anticipate situations like this.

And when you manage your own pay per head sportsbook operation, you also need to keep track of payouts so you can see how much you are earning. For sportsbooks in Louisiana, for instance, the hold drops from 14.4% to just 7.8% in June. This means bettors won a lot during this period. As a consequence, the revenue is at $11.3 million. This is less than half of May 2023’s $25.5 million revenue.

However, year-on-year numbers are rising, which signifies a growing betting market. The handle this year is 28% higher than the same period last year, and revenue is 7.5% higher as well.

Louisiana Sports Betting Handle and Market

Short term dips in the handle is usually an indicator of betting trends that happen. Meanwhile, long term data comparison, like year-on-year numbers, can tell us if a betting market is still growing, which is exactly the case in Louisiana.

If we look at where the bets come from, retail betting took a beating this month, at $14.3 million, which is the worst monthly handle that the state has seen since its launch in November 2021. Year-on-year numbers also show us a drop in wagers by around 23%. Despite this, retail sportsbooks still have a $1.1 million revenue, so not all is lost.

Parlay bets take the lion’s share of wagers in sportsbooks across the state north of $10 million. As for single wagers, baseball was the top source of wagers, followed by basketball betting. If you want to also have a sportsbook that offers a large variety of bets, then get a bookie software and make sure to go through this bookie software checklist.

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