For the second straight October, Louisiana sports betting operators offered more tricks than treats to the betting public.
The Louisiana Gaming Control Board reported Thursday all-time monthly records for sports wagering revenue and handle for October as Pelican State sportsbooks again pummeled bettors in staggering fashion.
The state’s 18 retail sportsbooks and nine mobile betting apps claimed $43.3 million in gross revenue, narrowly improving on September’s record haul by about $200,000. Handle topped $300 million for the first time in 24 months of wagering in Louisiana, reaching $308.6 million as it eased past the previous standard of $282.3 million established in January.
The 14% hold on gross revenue was actually down 1.4 percentage points from September but still double the long-held industry standard of 7%. Louisiana sportsbooks have had a collective win rate of 12% or higher in 13 of the 24 months of commercial wagering, and the Pelican State is home to six of the nation’s 45 monthly revenue reports in 2023 featuring holds of 12.6% or higher.