Louisiana sports betting earnings reached $49.3 million in January – Sports Betting – iGB
Louisiana customers placed a total of $49.3 million (£36.2 million/€43.4 million) at physical sportsbooks in January, the month the state also introduced its legal internet sports betting market.
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Louisiana sports betting earnings reached $49.3 million in January
The figure is the highest monthly sum since Louisiana started legal physical betting on October 31 last year, with January’s amount up 24.8% from December’s $39.5 million and 78.6% higher than November’s $27.6 million.
Physical sports betting earnings in January were $5.3 million, up 29.3% from December’s $4.1 million but down 7.0% from November’s $5.7 million.
Football betting earnings in January were $1.5 million, while basketball revenue was $313,941. Combined bets accounted for $3.5 million of all earnings in January.
Data released by the Louisiana Gaming Control Board also showed that physical sports betting tax revenue in January was $533,289.
Legal physical betting began operating last October when Betfred Sports partnered with Paragon Casino Resort to launch in-person betting, followed by Caesars Entertainment, which launched physical betting at its Harrah’s New Orleans and Horseshoe Bossier City properties.
The states authorized online sports wagering marketplace formally launched last month, with numerous operators already granted permission to function.
Louisiana made sports betting legal in November 2020 through local referendums, but the market’s commencement was postponed until 2021 because Louisiana only permits new taxes to be enacted in years with odd numbers.
Penn National Gaming and its Barstool Sportsbook, Caesars, DraftKings, Rush Street Interactive and its BetRivers Sportsbook, and Flutter Entertainment’s FanDuel group in collaboration with Boyd Gaming, have all begun operations within the state.
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