- Published in From the Desk of the Chairman
Louisiana Sports Betting: 2022 In Numbers
As each new US state passes legislation allowing online sports betting, a whole new audience gets to enjoy the pastime, and this has resulted in some staggering numbers in terms of money wagered and revenue generated by the licensed, regulated providers in the relevant territory.
Online sports betting in Louisiana went live in late January 2022, and it was not as simple a process as it has been in other states. Whereas in most states, the referendums used to dictate the possibility of legalization coming up on the docket in a state-wide referendum, in the Pelican State, the situation is broken down by county.
Of the 64 parishes that voted on the matter of online sports betting, 55 approved, and nine did not, but this led to a fairly absurd situation that meant that people in those parishes needed only to get in their vehicles and drive to a relevant neighborhood before placing their bets.
The state has eight legal sportsbook apps, including DraftKings Louisiana, which is, without doubt, one of the most popular and best available to residents, and in December, revenue hit a record $37.2 million, showing just how much potential there is in the market in the region.
This was in marked contrast to the revenue made in November, which saw the many sportsbooks take a big hit as Jim “Mattress Mack” McIngvale beat the bookies with a series of bets placed on the Houston Astros winning the MLB World Series.
He won a staggering $75 million from his bets, of which $58.7 million came in Louisiana, something that the providers in the state could not have possibly mitigated or predicted.
Over the course of 2022, the first year of legalization in Louisiana, the state broke the $30 million milestone for revenue four times, and December’s numbers were the highest of the whole year and a sign of things to come.
In 2022 sportsbooks accepted over $2.3 billion in bets, with $1.96 billion coming from mobile devices, which is evidence of a massive shift to mobile betting, which can be seen worldwide, not just in the sports betting world but also in the online casino industry.
The success of online sports betting hasn’t only been advantageous to the sportsbooks that are licensed to operate but also helped to bring in $33.9 million in tax receipts, with almost 40% of that total coming in the final quarter of 2022.
Those December numbers put Louisiana in seventh place in terms of sports betting handle, behind the following.
- 1) New York $1.63 billion
- 2) New Jersey $1.06 billion
- 3) Pennsylvania $754.8 million
- 4) Maryland$497.1 million
- 5) Tennessee$440.4 million
- 6) Indiana$431.4 million
- 7) Louisiana$254.3 million
- 8) Iowa$229.9 million
- 9) Kansas$182 million
- 10) West Virginia$66 million
Of the sports that attract bets in Louisiana, American football is top of the list, with basketball a distant second. Baseball lies in third.
2023 promises more of the same for Louisiana, with February likely to be a big month given the end of the NFL season and the Super Bowl on the 13th of February.