Louisiana Sportsbooks See More Sports Betting Activity in August

In the latest gambling industry news, the Pelican state is starting to see better sports betting activity as Louisiana sportsbooks report a higher monthly handle in August. The total monthly betting handle for the state is at $153.9 million for August. This gives us a hike of 14% from the previous month. However, revenue from betting for the same period is at $17 million, which is half a million less than the previous month.

The revenue for the month pales in comparison from the 40% increase in revenue from June to July, but the hold percentage is still in the double digits at 11%. The reason why even though we have a good hold rate but low revenue, is because of promotions. Sportsbook operators wanted to increase activity from players. Thus, they increased their promotional credits from $685,000 in July to $1.1 million in August. This, of course, cuts into your profits. You can track your sportsbook’s data with the help of a good sportsbook pay per head software. Their software can help you find out how much you make on a daily, weekly and monthly basis.

Louisiana Sportsbooks: The Rise of Online Wagering

Even with the dip in revenue, we are still seeing better numbers in Louisiana compared to the same period last year. The handle is up by around 20%, while revenue is a whopping 80% higher than that of revenue back in August 2022.

Online sports betting continues to gain more popularity, something bookies should keep track of. Using Pay Per Head Bookie services can help you get started with an online sportsbook, so you can get a share of the growing betting market. For Louisiana, online sportsbooks generate $138.9 million of the total handle in August. This is 24% more than that of 2022. Meanwhile, retail sportsbooks report a decent $15.1 million in handle, and $2 million in revenue.

Baseball revenue dropped by half to just $1.5 million in August. But since football betting starts to gain momentum in August, football revenue is at $3.5 million. This amount covers both NFL and college football betting.

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