The Louisiana Gaming Control Board reported $40.4 million in gross sports betting revenue for April as operators again pummeled bettors in the Pelican State.
Sportsbooks in the Bayou and parishes throughout the state had a collective 14.3% hold on gross revenue, the 11th time in 30 months of commercial wagering that the win rate has exceeded 14% — double the 7% industry standard. It was also the 23rd time the hold reached double digits as Louisiana’s all-time gross revenue for operators surpassed $750 million.
April’s handle of $283.1 million represented a 35% increase compared to last year and was down 19.1% from March’s $350 million. Revenue surged 72.4% year-over-year as April’s hold was 3.1 percentage points higher. For the first four months of 2024, the $161.9 million in gross revenue is up 41.1% versus the same span in 2023.
The state was eligible to tax $36.4 million in adjusted gross revenue, resulting in an inflow of $5.4 million into tax coffers. Operators deducted $3.9 million in promotional credits and bonuses — more than triple the $1.2 million reported in April 2023 and up less than 1% from March.