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Louisiana Started Sports Betting Slowdown in May

Dave Bonderoff

Last Updated: June 20, 2023 2:54 PM EDT • 1 min 44 sec read.

Some of the more than 400 proposition bets for Super Bowl LI are displayed as we look at the details surrounding the YieldSec report on illegal U.S. sports betting
Some of the more than 400 proposition bets for Super Bowl LI are displayed at the Race & Sports SuperBook at the Westgate Las Vegas Resort & Casino in Las Vegas, Nevada. Photo by Ethan Miller/Getty Images via AFP.

The Gaming Enforcement Division of the Louisiana State Police is out with the May revenue report for the state's legal sports betting scene. The figures released Tuesday are a mixed bag, complete with expected seasonal drop-offs in overall wagering activity but surprising month-over and year-over-year increases in revenues for Louisiana sports betting.

Louisiana's sports betting apps were able to build on a trend of higher hold-rates with the nation's legal sports betting providers. It appears that sports bettors across the country were unlucky in May, and states like Louisiana benefitted in terms of sportsbook profits, and ultimate tax contributions to needy state and local coffers.

The Louisiana May sports betting handle

For just the second time in the last nine months, and the first time since February, Louisiana’s best sportsbooks failed to eclipse the $200 million mark in terms of sports betting handle. May, in fact, represented the lowest sports betting output for the state since August.

The Gaming Enforcement Division of the Louisiana State Police reported $193.5 million in sports bets for the Pelican State in May, a 6% drop from the $209.6 million reported in April.

The $193.5 million is, however, a 24.7% improvement over the $171.1 million in sports bets taken in during May 2022. Remember to check out the top Louisiana sportsbook promos when wagering in the state.

Revenues crept up

The good news out of Louisiana's May legal sports betting report was the overall increase in revenues. Betting sites made $25.5 million in profits in May, up from $20.3 million in April.

Both the best sports betting apps and retail sports betting sector saw increases in revenues last month. The retail side alone saw profits increase from $1.8 million in April to $2.7 million in May.

The reason for Louisiana's uptick in sportsbook profits is simple, and as mentioned, follows a trend seen in other jurisdictions around the U.S. The hold rate for Louisiana's sports betting providers in May increased dramatically and was a reported 14.4%. By comparison, the hold rate for Louisiana sportsbooks was 11.2% in April.

Looking ahead

May of 2022 marked the start of a healthy four-month summer downturn for the Louisiana legal sports betting industry, and a similar drop-off is expected this year. June, July, and August of 2022 failed to produce north of a $128.2 million sports betting handle, which is about half of what is expected in peak NFL-fueled months for Pelican State sports betting providers.

The good news is that September will be here soon. In 2022, sports betting activity jumped nearly $80 million from August to September, and nearly $50 million from September to August. 

Expect similar spikes once the seasonal summer sports wagering slowdown is complete.

Written By:
Dave Bonderoff
Dave Bonderoff and betting go hand-in-hand. Both are characterized by "odds". Dave fancies himself as one of the most dedicated sports and pop-culture junkies around, to the chagrin of his family and friends. Following sports for 50 years and writing about it for 20, Dave hasn't found a sport yet that can't contribute to 2-3 straight hours of couch time. That search remains ongoing. As a good old Canadian boy, hockey is in Dave’s heart, as is curling sadly. But evolution is a real thing and that’s why football, baseball, and just about every sport on the planet has become a passion. Dave isn’t afraid to kill some time obsessing over politics or the far-too-frequent awards shows the consume the airwaves.