May was a particularly good month for Louisiana’s sports betting industry, with the state reporting its second-highest monthly total since online betting became legal at the start of the year.
Revenue in May 2022 was reported as $22.6 million – a giant leap from $3.3 million in April 2022.
The Bayou State opened its legal online sports betting market at the end of January this year, although legal retail betting began last October already.
Several operators are licensed in the state, with Penn National Gaming’s Barstool Sportsbook becoming the first brand to launch on opening day.
Highlights of Louisiana Sports Betting Report
– Consumer spending dropped from $186 million in April 2022 to $142 million in May 2022.
– The single main source of revenue for licensees came from baseball betting, with the sport generating $5.7 million in revenue.
– Licensees saw $4.7 million generated from basketball.
– Revenue from retail betting in May 2022 was up 17.4% (from $2.3 million in April to $2.7 million in May).
– Retail handle grew 28.4% to $28.5 million.
– Unlike online betting revenue, basketball contributed the most to retail revenue (just over $400K). This was followed by baseball ($248K), and soccer ($25K).
