Louisana Sports Betting Revenue Continues to Climb in April

The Bayou State’s gross sports betting revenue exceeded $40 million in April 2024, maintaining a hold rate of 14.3 percent to beat March’s 10.8 percent. Louisiana reported a total of $40.4 million in gross revenue across the 55 parishes that approved legalized sports betting during November 2020. 

Win rates at the nine legal mobile sportsbook operators in Louisiana also rose to 13.4 percent, up from 9.9 percent in March and a whopping 72.9 percent compared to 2023. The total taxes paid to the state from mobile sports betting resulted in $5.2 million, up from $4.7 million in March 2024. 

April 2024 Louisiana sports betting revenue

March Madness created an influx of sports betting wagers during April. This was in addition to the start of the 2024 NBA playoffs, the total amount of bets placed last month in Louisiana rocketed up to $319,378,658 from $253,069,041 reported in March. 

This 14.3 percent hold rate marks the 11th time that sportsbooks in Louisiana have recorded a hold rate over 14 percent since the launch of online sports betting on January 28, 2022. It’s an increase from the 10.8 percent hold rate recorded by Bayou State sportsbooks during March 2024. 

Most Popular Louisiana sports betting markets

Between online and retail sportsbooks, over $28 million in gross betting revenue came from parlays placed by Louisiana sports bettors in April. Basketball and baseball were the only other mobile sports betting markets to haul in at least $2 million in revenue, with basketball generating a total of $5.7 million in gross revenue. 

The men’s and women’s Final Four tournaments that concluded March Madness, combined with the start of the NBA playoffs and the 2024 MLB season, explain why these numbers were much larger than other sports betting markets. Football reigns supreme when it’s in-season, but bettors actually came away with roughly $52,000 in profit between online and retail sportsbooks in April.

Soccer and ‘other’, categorized as sports betting markets like motorsports, golf, MMA, tennis, and NHL, comprised $1.04 million in mobile sports betting gross revenue. Just over $116,000 in revenue was generated between soccer and other betting markets at Louisiana retail sportsbooks during April 2024.

Current Louisiana betting news

The retirement of former Louisiana Gaming Control Board Chairman, Ronnie Johns, was announced on April 4, 2024. Johns oversaw the implementation of retail and mobile sports betting in the Bayou State after stepping into this position in 2021.

The upcoming ban on college player prop betting markets in Louisiana will go into effect on August 1, 2024. The push to ban college player props is an effort to curb student-athlete harassment while also preserving the integrity and ethical nature of college sports.

Pages related to this topic