Louisiana Joins States Reporting Record Sports Betting Handle in November

The was released Wednesday. To nobody's surprise, Bayou State bettors propelled the state to a new all-time monthly sports betting high, in some cases utilizing our best sports betting apps.

Like other sports betting jurisdictions that have already reported their November earnings, Louisiana sports betting failed to set a revenue record because of an unusually low win rate for state providers. Despite a new handle record, sportsbooks reported one of their worst monthly revenue hauls.

About the record handle

Louisiana sports betting apps and the state's retail providers combined for a record $356.5 million handle in November. It is a nearly $50 million improvement from the $308.6 million record sports betting handle the state set in October and an almost $88 million year-over-year improvement from the $268.6 million handle reported in November 2022.

Louisiana sports betting sites were responsible for $322.9 million of the overall $356.5 million November handle - the mobile handle would have set a new combined monthly record handle all by itself.

Louisiana retail sports betting providers took in a respectable $33.5 million in November — the second-highest monthly total for brick-and-mortar facilities this year. It is notable that retail made up nearly 10% of the state’s sports betting activity.

So far this year, Louisiana’s best sportsbooks have taken in more than $2.5 billion, 23.2% better than the same 11-month period last year, as residents continue to take advantage of Louisiana sportsbook promos.

Lifetime handle for Pelican State sports betting providers almost hit the $5 billion mark in November. The total fell just $102 million shy of that milestone figure.

Louisiana sportsbook revenues down month-over-month but up year-over-year

Louisiana sportsbook's November revenues were down month-over-month but were up year-over-year. 

Bayou State providers can thank Jim “Mattress Mack” McIngvale and his whopping $58.7 million winning futures bet on the Houston Astros to win the 2022 World Series for a minus 25.3 million in Louisiana sportsbook revenues for November 2022.

Gross revenues for Louisiana sportsbooks came in at a slightly disappointing $29.3 million in November 2023, off a year-to-date low 8.2% hold rate. GGR totals were way down from the $43.3 million reported in October but increased dramatically from the negative earnings report from November 2022.

The $310.2 million in gross revenues has been reported so far in 2023 for Louisiana sportsbooks. That's a 75.8% improvement from the same period last year.

Louisiana reported $3.2 million in taxes collected off the adjusted revenue total in November, taking the year-to-date tax haul to $36.2 million. That's $6.7 million better than the same 11-month period from last year.

Louisiana does not report on individual sportsbook handles and revenues, but it is safe to say that all had a good month. Despite an underwhelming sportsbook revenue total, Louisiana’s sportsbook totals align with others we have seen in the broad U.S. legal sports betting scene. 

Providers in the state will be looking to set a handle record for the third straight month in December and have a decent chance of doing so.