The “Mattress Tax” in Louisiana was king-sized in November.
Jim “Mattress Mack” McIngvale’s winning futures wagers on the Houston Astros to win the World Series at multiple mobile sportsbooks in the Pelican State paid out handsomely in November. They also left Louisiana with an ugly red number when it came to gross revenue for sports wagering.
The overall figure of minus-$25.3 million in gross revenue reported by the Louisiana Gaming Control Board is the largest monthly loss reported by any state in the post-PASPA era, which began in May 2018. The previous highest monthly loss in gross revenue — $972,382 — reported by a state was by Delaware last December.
Louisiana’s monthly deficit marks just the 13th time in the post-PASPA era that there has been an overall revenue loss by the state, though there are more occasions of monthly losses in adjusted revenue totals due to promotional credits that come with mobile wagering launches. To this end, Louisiana’s minus-$25.6 million in adjusted gross revenue (AGR) for November will not be the worst nationwide, as Maryland reported an AGR of minus-$33.6 million thanks to a staggering outlay of more than $60 million in promotional credits by operators as part of its mobile launch.