Louisiana Sports Betting Revenue Surges

Louisiana’s gaming revenue has grown significantly over the past three years as the market has expanded and matured.

In 2021, the state’s gross gaming revenue (GGR)was $6.7 million, as betting became legal late in the year and the industry prepared for broader legalization and adoption. By 2022, the launch of online and retail sports betting helped bring the GGR to $228 million, a 3298% jump as the market became more accessible to bettors all over the state.

The momentum continued into 2023, with a GGR of $289.8 million, up 27% from the previous year. This growth shows the state's competitive landscape and increased mobile and in-person wagering participation.

Through the first nine months of 2024, Louisiana’s gaming market generated a total handle of $2.5 billion and gross gaming revenue of $274.8 million, reflecting a steady progression. The average hold percentage during this period was 11.77%, and the state collected $44.2 million in tax revenue. This data indicates that the market continues to mature with stable growth trends driven by online and retail sports betting (Louisiana Gaming Control Board, 2024).

• November 11, 2024: Louisiana state representative Roger Wilder proposes a bill to increase the online sports betting tax rate to 51%, matching the rate in New York. Wilder's bill was deferred and did not reach the means committee or Governor Jeff Landry's desk (Louisiana Illuminator, 2024).
• April 1, 2024: The Louisiana Gaming Control Board bans in-state college prop betting, with the ruling going into effect on August 1 (Snell and Wilmer Law, 2024).
• February 28, 2022: Louisiana sports betting handle reaches $211 million in the state's first full month with online sports betting (Gambling.com, 2022).
• January 28, 2022: Online sports betting goes live in Louisiana.
• October 6, 2021: The first legal sports bet is placed in the state by former New Orleans Saints star Joe Horn (NOLA.com, 2021).
• November 3, 2020: Louisiana voters back a ballot measure to legalize sports betting. It earns majority support in 55 of the state's 64 parishes (Ballotpedia.org, 2020).

Below is a summary of how the state’s sports betting industry has developed based on data from 2021 to 2024.

2021 (Partial Year)

In Louisiana's first experience with legal gambling, the total handle was $67.4 million, revenue from retail sportsbooks was $6.7 million, and the state got $1 million in tax revenue.

2022

In the first year with online and mobile gambling, the market grew by all major metrics. Handle was $2.3 billion, a 3,317% increase from 2021.GGR was $228 million, up 238.4%. Tax revenue hit $34.2 million as the market expanded rapidly.

2023

Louisiana continued to grow in 2023. Handle was $2.91 billion, a 26.2% increase from 2022. GGR was $289.8 million, and taxes were $43.5 million.

2024 (January–September)

In the first nine months of 2024, the handle was $2.5 billion, GGR reached $274.8 million, and tax revenue was $44.2 million.

Louisana's performance shows the monumental difference that online sports betting makes to the consumer and, by extension, a state's ability to generate tax revenue. Because this is a relatively new market, it's difficult to tell how sustainable the growth Louisiana has seen so far is.

At the same time, until growth slows considerably, there will be no evidence that Louisiana's gaming industry is near its ceiling.