Louisiana sets new sports betting record with a staggering $356 million handle in November
Louisiana's Sports Betting Market Breaks Records in November
In a significant move for the sports betting industry, Louisiana's sports wagering handle reached a record-breaking $356.5 million in November 2023. This impressive figure, reported by the Louisiana Gaming Control Board, positions the state as the 10th highest in sports betting handle among states, according to recent data.
The combined winnings from football and basketball amounted to $9.1 million in November, marking a dramatic turnaround of $54.6 million compared to the previous year. The loss incurred in November 2023 was significantly less than the $60.7 million loss in the same month the previous year.
The state collected over $3.2 million in taxes in November, with the $36.2 million raised in taxes this year running $6.7 million ahead of last year's pace. The "other" category, which includes golf, tennis, boxing, MMA, and motorsports, accounted for $1.4 million in November.
The online sports wagering handle in November was $322.9 million, surpassing October's mark of $308.6 million. For the first time, wagering through mobile betting apps topped $300 million in Louisiana. The collective hold of sportsbooks in Louisiana was 8.2% in November, the lowest of the year.
The launch of ESPN BET and bet365 likely accounted for a majority of the $9.9 million promotional spend in November. FanDuel and DraftKings are expected to have provided notable amounts in promotional spend as well. These promotions, often in the form of sign-up bonuses, profit boosts, and targeted sports-specific offers, play a crucial role in capturing market share and maintaining engagement in the state.
The growth and competition in Louisiana's sports betting market are evident, with the state's overall betting revenue having exceeded $1 billion in early 2025. The market is expected to continue its upward trajectory, surpassing $3.69 billion in handle in 2024 and breaking records with a $413 million handle month in November 2024.
With potential tax hikes on the horizon, sportsbooks need to maximize their current market share and betting volume while promotional budgets remain a key tool to compete effectively. The strategic importance of promotional spending by top sportsbooks like ESPN BET, bet365, FanDuel, and DraftKings cannot be overstated in Louisiana’s expanding and competitive sports wagering market. These promotions directly influence user acquisition, betting volume, and brand presence in the state.
- The record-breaking $356.5 million sports wagering handle in Louisiana in November included a significant portion for parlay bets, a popular choice among sports bettors.
- In Louisiana's sports betting market, the collective payout from successful wagers in November amounted to over $10 million, demonstrating the potential for generous returns.
- Sportsbooks in Louisiana are actively engaging customers through various promotional offerings, such as sign-up bonuses and profit boosts, with the aim of increasing market share and maintaining a strong presence in the competitive sports-betting landscape.
