Louisiana online sports betting takes in more than $211 million in bets
Louisiana online sports betting’s first full month of operation was a success for the state.
The Louisiana Gaming Control Board reported the six online sports betting operators took in $211,015,085 in bets during February, the state’s first full-month of operation. It reported net proceeds of $16,652,028, which resulted in $2,214,659 for the state, a 7.9% hold.
Six sportsbook operators launched in Louisiana on Friday, Jan. 28, with Barstool Sportsbook, BetMGM Louisiana, BetRivers, Caesars Sportsbook, DraftKings and FanDuel taking bets in the state. In the four days the operators were live in January, the sportsbooks took in more than $40.4 million in bets.
In total, the gaming control board reported $238,413,596 in total handle for the state, with retail sportsbooks reporting $27,398,511 for the month of February. The total taxes paid to the Louisiana for February was about $2.35 million.
Football remained the highest grossing sport for online operators, bringing in more than $9.8 million in February. Basketball was second with $5.07 million and parlay bets accounted for $4.4 million.
Louisiana sports betting framework
Louisiana law makers set a 10% tax rate on retail sports betting and a 15% tax rate on online sports betting.
Sports betting tax revenue will be dispersed as such:
- 60% to the general fund.
- 25% to early education.
- 12% to the parishes.
- 2% to programs for gambling addiction.
- 1% to a sports wagering purse fund for horse racing.
Where is Louisiana online sports betting legal?
Sports betting is legal in 55 of 64 Louisiana parishes that approved the measure in the November 2020 general election. In-person and online sports betting is not permitted for residents living in the following parishes:
- West Carroll