With an 11.5% win rate in August, Louisiana sportsbooks saw their betting handle increase 27%

Last week, the Louisiana Gaming Control Board reported that sportsbooks in the state combined for an 11.5% hold in August. That was their ninth consecutive month with a double-digit win rate. State operators collected $27.1 million in gross revenue, up 49.3% from their figures in 2023. Additionally, Louisiana sportsbooks saw a 52.3% increase in handle to $234.5 million. Their wagers for the calendar year have now surpassed $2 billion.

Along with revenue increase, wagering jumped 27.1% from their figures in July. Revenue from wagering was only up 8.1% as the hold was two percentage points lower. This was also the seventh time in 2024 that Louisiana sportsbooks had a hold of 11% or better. Their 11.5% win rate in August was still almost a full percentage point lower than their year-to-date hold of 12.7%. Finally, the state was eligible to tax $25.4 million in adjusted gross revenue.

Where did Louisiana sportsbooks see success in August?

The Louisana Gaming Control Board only provides revenue figures for the sports category. As it has been in the past, state operators claimed more than half of their winnings from parlays in August. Louisiana operators generated $14.4 million in revenue from multi-leg wagers. That was up 53.9% from their figures in 2023 and their 12th straight month with at least $13 million in revenue.

Louisiana’s $172.8 million in winnings from parlays accounted for 62.6% of all gross revenue in 2024. The state’s increase in parlay revenue was offset by the year-over-year decline in football. Sportsbooks collected $3.3 million in revenue last month from college football and the NFL preseason. Their “catch-all” category collected $4.5 million in revenue. That includes golf, tennis, and MMA. For the fifth consecutive month, baseball revenue topped $2 million in August. The state’s all-time operator deficit from baseball was lowered to $12.3 million.

How are Louisiana sportsbooks operating year-over-year?

Through the first eight months of 2024, Louisiana Sportsbooks have a $2 billion handle. With how hot the New Orleans Saints have been to start September, reaching a $3 billion handle by the year’s end is not out of the question. Wagering in the state is up 35.4% year-to-date compared to the figures they saw in 2023. That includes a 40.6% increase over the last three months when the NFL and NBA were not in action.