The Louisiana Gaming Control Board reported monthly record gross sports wagering revenue totaling $56.5 million for December as operators went on a historic rampage when it came to parlay winnings.
The Pelican State also set an all-time monthly record for handle at $377 million, the third straight month bettors raised the standard. Handle was up 48.3% compared to the final month of 2022 and 5.8% versus the $356.5 million wagered in November. Close to $345 million of those wagers came from Louisiana’s 10 mobile betting apps, also an all-time high.
The previous record for gross revenue was $43.3 million in October, which was also when the previous high for parlay winnings was established at $27.4 million. December left a lot of coal in the stockings of multi-leg bettors, as the house picked up a whopping $43.2 million in winnings off those wagers. The LGCB does not provide handle by sport categories, which results in no hold being available.
The hold on all wagers neared 15%, the seventh-highest in 26 months of wagering. The state was eligible to tax $55.8 million in operator revenue, which led to a record inflow of $7.6 million into state coffers. Louisiana collected $43.8 million in state taxes from sports betting in 2023, up $9.9 million from 2022.