Louisiana sportsbooks experienced a record-breaking month in March, with a total handle of $350 million, according to the latest figures released by the Louisiana Gaming Control Board. The surge in sports betting activity comes after the state officially launched legal sports betting in January, following the passage of legislation in 2020.
The $350 million handle in March represents a significant increase from the $200 million handle recorded in February. The increase is attributed to a combination of factors, including the NCAA March Madness tournament, which generated a flurry of betting activity, as well as increased interest in professional sports leagues such as the NBA and MLB.
“We are thrilled to see such strong growth in our sports betting market in just a few short months,” said Louisiana Gaming Control Board Chairman Ronnie Jones. “The interest and enthusiasm for sports betting in Louisiana are clear, and we expect to see continued growth in the months ahead.”
The Louisiana sports betting market is comprised of both retail and online sportsbooks, with popular operators such as DraftKings, FanDuel, and Barstool Sportsbook all vying for market share. In March, online betting accounted for the majority of the handle, with over $250 million wagered through online platforms.
One of the key drivers of the growth in sports betting in Louisiana has been the popularity of mobile sports betting, which allows bettors to place bets from anywhere within state borders. This convenience has made sports betting more accessible to a wider range of consumers, leading to increased participation and higher overall handle.
In addition to the surge in sports betting activity, Louisiana sportsbooks also reported a strong revenue figure for March, with operators taking in over $25 million in revenue. This revenue represents a significant increase from the $15 million reported in February, highlighting the profitability of the sports betting market in the state.
As sports betting continues to gain momentum in Louisiana, industry experts are optimistic about the future of the market. With a strong legislative framework in place and growing consumer interest, Louisiana is poised to become a major player in the national sports betting landscape.
“We are very encouraged by the positive trends we are seeing in the Louisiana sports betting market,” said Jones. “We believe that the market has tremendous potential for growth and are committed to fostering a safe and competitive environment for operators and bettors alike.”
With the success of March’s record-breaking handle, Louisiana sports betting is on track to continue its upward trajectory in the months ahead. As more sports fans discover the excitement of sports betting, the market is expected to expand even further, solidifying Louisiana’s position as a key player in the sports betting industry.
