The figures are in for the first full month of mobile sports betting as the Louisiana Gaming Control Board reveals that local gamblers wagered over $211 million online via sports betting apps during February.
The state launched its mobile market on January 28th 2022 following the successful launch of retail sports betting in October of 2021.
Barstool Sportsbook, Caesars, DraftKings, BetRivers Sportsbook, and FanDuel were the first mobile sports betting apps to launch in the state and accepted a total of $40.5 million in the first four days of operation (final four days of January).
In the following month, the five sportsbooks reported accepting a total of $211 million online wagers. All five combined to generate revenues of $16.7 million, however, $11.7 million of that figure was through promotional credits and offers. This resulted in actual taxable revenues of $5 million.
Unsurprisingly, football betting was the main source of revenue in the lead up to the Super Bowl. NFL betting generated $9.8 million in revenue while betting on basketball generated $5.1 million.
Retail betting for the month saw local gamblers place over $27.4 million in wagers at sportsbooks. This was down by 44% on the $49.3 million wagered in January as many gamblers turned to mobile sports betting apps.
Revenue for the retail sector came to $642,663 for the month of February down a remarkable 88% on the $5.3 million generated in January. This was the lowest amount reported since the retail industry launched but once again, mobile sports betting was a mitigating factor in the drop.
Overall the Louisiana sports betting markets combined saw a total of $238.4 million wagered throughout the month resulting in overall revenue of $5.6 million.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.