Sports Betting Revenue in Louisiana Is Exceeding Fiscal Projections

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: August 24, 2022

Retail sports betting has been operational for about ten months, but mobile operations only started in January. Sportsbooks conduct most of their activities online in states that allow online sports wagering.

Between January through June, in-person and mobile sportsbooks have generated nearly $13.1 million in related tax revenue for the state. Officials predict that Louisiana sports betting will create more tax revenue in the first full year of operation than the $30 million the state anticipated when it legalized expanded gaming. This belief stems from the fact that the football season has not yet begun.

The chair of the LGCB (Louisiana Gaming Control Board) Ronnie Johns said: “We have not yet experienced a football season with sports betting. The college and NFL seasons are usually your biggest sources of revenue.”

Since they began their operations, Louisiana’s oddsmakers have taken about 1.1 million bets. Through the year’s first half, mobile and retail sports betting generated gross revenues of just under $85.4 million.

Boom in Sports Betting

Sportsbooks in Louisiana are required to give the state 10% of their Gross Gaming Revenue (GGR) from in-person bets. Revenue from mobile sports betting is taxed higher at 15%. Louisiana is considered a sports betting haven in the Deep South, unlike many other states that have taken action to permit, regulate, and tax sportsbooks. The entire western border of the state is shared with Texas. Texas has long been against legalizing commercial gambling and has no plans to do so anytime soon. However, you can cross the border and legally bet on sports in Louisiana.

Arkansas and Mississippi, Louisiana’s two other bordering states, permit sports betting. However, sports bettors in Mississippi are required to place their wagers in person at one of the state’s casino sportsbooks. Oddsmakers in the Pelican State are getting ready for a busy fall and winter. They believe football is king in Louisiana and Texas and that many Mississippi residents will cross the state border to place bets on their mobile devices.

Casino Win Slows

The revenue from sports betting for July has not yet been disclosed. However, the LGCB released the casino’s July slots and table game numbers this week. The results weren’t particularly pleasing. The combined winnings from the state’s racinos, riverboat casinos, and Harrah’s New Orleans casino totaled about $204.2 million last month. This is about 8% less than in July 2021.

The 15 riverboats generated $152.2 million in GGR collectively. The three casinos in Lake Charles, Horseshoe, Golden Nugget, and L’Auberge, accounted for nearly $63 million in riverboat revenue. The three casinos in Baton Rouge won $20 million, while the six gaming boats in Shreveport won $47.8 million. Harrah’s New Orleans won $22.6 million, while the three regional casinos in New Orleans won $21.6 million. The four racetrack casinos offer only slots; they won $29.3 million.

The GGR for the riverboats decreased by 7.1% from 2021. Revenue from the racinos dropped by 9.4%, and Harrah’s New Orleans further weakened the state industry by seeing its GGR fall by more than 12% from July 2021.