iGB examines the monthly results of US states and analyzes sports betting spending in Louisiana, as well as an ongoing decline in New Hampshire.
Louisiana’s handle and revenues increased year over year in May. New Hampshire reported lower revenues despite an increased player spend.
Overall spend on sports betting in the state in May hit $256.7m (PS203.1m/EUR240.1m), 31.6% higher than the same month last year. Online, $238.3 million of this total was wagered, while the remaining $18.4 million were bet at retail sportsbooks.
Angel Reese, a former national basketball champ from Louisiana State University’s (LSU), signed with the WNBA Chicago Sky team in May. This likely encouraged an increase in betting in the state for the four-month season.
Louisiana Revenue Growth
The gross revenue generated from betting on sports totaled $33.5m. This is an increase of 18.8% over the last year, and slightly above $33.0m from April.
In May, online betting generated $31.2m in sports betting revenue. Retail market revenue was $2.3m.
The most popular betting method was parlay, which generated the highest revenue in both online and retail. Online it reached $21.3m while retail brought home $1.4m. Basketball was the top sport for revenue online, with $2.2m. Baseball topped the list in retail, earning $479.857.
Online betting brought in $5.5m tax revenue, while retail sales were $244,950.
The total wagering in Louisiana for the first 10 months of the year reached $3.12bn. The total wagering in Louisiana for the year to date was $3.12bn during the 10 months up until May. This included $2.85bn online and $275.6m retail bets.
For the entire market, revenue for this period was 361.8 million dollars. Online betting accounts for $333.4m of the total, while retail wagering is $28.5m.
Handle Down again in New Hampshire
In New Hampshire the total expenditure in May was $58.0m. It is up 11.3% from last year, but down 3.2% compared to April. This is the second month in a row that the state has declined.
In April, online betting was worth $51.7m compared with $6.3m at the retail bookmakers.
In May, revenue topped $6.55m. It is 7.1% less than the previous year, in spite of higher spending. However, it’s 22.6% higher than April, and has a higher handling.
Online betting generated $5.9m in revenue for May. Retail sector $652,270.
New Hampshire collected $2.8m from tax on sports wagering during the last month. The $2.5 million from online bets was accompanied by $293 521 in retail wagers.
The total amount spent in New Hampshire for the first 10 months of the year, ending May 2010, was $703.7m. The total wagers in New Hampshire for the year to date was $703.7m. This includes $616.9m from online bets and $86.2m from retail betting.
The total revenue generated during the same time period was $71.5m. The online segment generated $64.5m, while the retail sector produced $7.0m.
