English
Arabic
Chinese
Dutch
French
German
Hindi
Italian
Japanese
Portuguese
Russian
Spanish
Thai
Ukrainian
Vietnamese
Louisiana has joined the growing list of states to legalise sports betting in the United States. In December, the state generated record profits from its sports betting industry, signalling a promising future for Louisiana’s gambling market.
The Louisiana Gaming Control Board recently released its latest report, which revealed that sports betting brought in a total of $9.1 million in revenue in December. This represents an increase of 30.5% from November’s $6.9 million and a significant boost to the state’s overall gambling revenue.
Sports betting in Louisiana
Louisiana legalised sports betting in 2020, but it took almost a year for the first legal bets to be placed. In March 2021, the first legal sportsbook opened its doors, and since then, the industry has grown rapidly.
Currently, Louisiana has four sports betting operators, including Caesars Entertainment, DraftKings, Penn National Gaming, and Churchill Downs. The state has also authorized online sports betting, which has contributed significantly to the growth of the industry.
December’s record profits
December was a particularly profitable month for Louisiana’s sports betting industry. The state’s sportsbooks handled a total of $66.3 million in wagers, up from $49.1 million in November. This marks an increase of 34.9% in just one month, highlighting the growing popularity of sports betting in Louisiana.
Of the $66.3 million in wagers, $61.5 million was paid out in winnings, leaving the sportsbooks with $4.8 million in revenue. This represents a hold percentage of 7.2%, which is above the national average.
The future of Louisiana’s gambling market
The success of Louisiana’s sports betting industry in December bodes well for the state’s gambling market. With the industry showing such strong growth in just a few months, it’s clear that there is significant demand for sports betting in Louisiana.
The state’s gambling market is set to expand even further in the coming months with the launch of online casino gaming and daily fantasy sports. These new offerings are expected to bring in even more revenue for Louisiana and provide new opportunities for gambling enthusiasts.
Conclusion
Louisiana’s sports betting industry has had a strong start, generating record profits in December. With the industry showing such impressive growth in just a few months, there is much to be optimistic about for the future of Louisiana’s gambling market. As more states legalise sports betting and other forms of gambling, Louisiana is poised to be a major player in the industry.
