Louisiana sports betting turns in high hold, low handle for May

Louisiana sports betting turns in high hold, low handle for May

Article brief provided by Legal Sports Report
  • Pat Evans, Legal Sports Report
June 20, 2022 10:25 PM
  • Pat Evans, Legal Sports Report

Louisiana sports betting handle continues a predictable downward trend following its late January online launch.

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In May, Louisiana sportsbooks took $171.1 million in bets, according to a Louisiana Gaming Control Board report released Thursday. Online LA sports betting began in late January 2022. The all-time high in Louisiana was $238.4 million during its first full month of operation in February.

Louisiana sportsbook generated $25.7 million in sports betting revenue, a 15% hold. Operators deducted just $364,295 in promotional spending. The seven online sportsbooks all are near the $5 million cap on promo deductions, LGCB Chair Ronnie Johns told LSR earlier this year.

The state collected $2.7 million in taxes during May.