Sportsbooks in Louisiana See Increase in Monthly Handle and Revenue for April

Sportsbooks in Louisiana See Increase in Monthly Handle and Revenue for AprilIn the latest sports betting news, we are taking a look at Louisiana, as the Bayou state reports an increase in monthly numbers for the sports betting handle, hold percentage, and revenue for the month of April. Such a feat is great for sportsbooks in Louisiana, especially since there are only 9 operators in the state, and not all parishes even offer sports betting.

Sports betting in Louisiana opened in October 2021, with online betting going live back in January 2022. Since then, sportsbooks in the state have taken in $6.5 billion in wagers. The total to-date revenue is at $754.9 million, and the state has collected around $98 million in taxes. Let us take a look at the numbers for April.

Sportsbooks in Louisiana Performs Well in April

Sportsbooks in Louisiana See Increase in Monthly Handle and Revenue for AprilThe total handle sportsbooks in Louisiana reported for April was $319,378,658, higher than March’s handle of $253,069,041. The hold percentage for this period is 14.3%, a huge jump from March’s 10.8%. This led to a $40.4 million gross revenue across the 55 parishes that offer sports betting.

The hold percentage is quite remarkable, and a familiar occurrence in sportsbooks in the state. This is the 11th time that the state has seen a hold rate of over 14% since its launch. If you are looking at a bookie business model, you should look for one that can help you easily gain numbers as good as what sportsbooks in the Bayou state are getting.

Sports Betting Markets in the State

Sportsbooks have to keep track of where wagers are coming from. Not just for the purposes of reporting to regulatory agencies- but to understand which sports are popular. By knowing where your players like to bet, you can easily come up with strategies to further increase betting activity and revenue in your sportsbook. Your sportsbook software can easily track this for you. And if you do not have one yet, or if your current software is not efficient at gathering data for your sportsbook, this sportsbook pay per head review can help you.

Meanwhile, for sports betting in Louisiana, here are the popular betting methods/sports leagues people bet on, and how much revenue sportsbooks got from each sport:

Sportsbooks in Louisiana See Increase in Monthly Handle and Revenue for April

Sportsbooks in Louisiana See Increase in Monthly Handle and Revenue for AprilBased on the table, we can see that basketball is the most popular sport that residents bet on during April. The credit likely goes to betting on March Madness. While the name of the event itself refers to the previous month, the Final Four up to the Championship games of the NCAA college basketball tournament actually happens during April.

In addition to that, you also have the start of the 2024 NBA Playoffs, which is also very popular during this time of year. Meanwhile, the MLB 2024 season was also ongoing, which is why the sport generated $2 million in revenue. Under the category of Other Sports, you have bets on motorsports, MMA, tennis, Gold, the NHL, and other sporting events from around the world.

 

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