Sportsbooks in the Big Easy had a (relatively) hard go of it in August, as a sharp drop in parlay revenue contributed to a steep decline in overall revenue, according to figures released Friday by the Louisiana State Police, which tracks sports wagering figures.
The state’s 17 retail sportsbooks and seven mobile operators claimed $9.7 million in gross revenue, less than half the $20.7 million amassed in July. The 7.6% win rate for August was nearly 10 full percentage points lower than the previous month. Handle rose 8.4% to $128.3 million, with $112 million wagered via mobile and online devices.
The August hold was the second-lowest in 10 months of sports wagering in the Pelican State, better than only the 3% win rate in April. Mobile operators remained stingy with promotional credits prior to the start of the NFL season, giving out $255,000 in such play. The promotional blitz that started the year – the online sportsbooks lavished more than $21.7 million in promotional credits to the betting public at first – has slowed to a trickle with less than $2.3 million over the last six months.