NFL Week 4 Parlay Picks
September 25, 2024
The most recent information from Louisiana’s retail and mobile sportsbooks for August has been released by the Louisiana Gaming Control Board (LGCB), showing a $234.5 million handle. Comparing the amount wagered in August of last year to $153.9 million, it shows a 52.3% rise. It also represents a 27.1% rise month over month over July’s $184.5 million in handling. Parlay bets accounted for 57.2%, of mobile sportsbook profits and 52.8%, of retail sportsbook revenue in August, making them the most popular wager.
Check out the latest sports betting odds at Caesars.
Apps for sports betting in Louisiana remained the market leaders, with 93.0% of the $218.2 million total handle—a 57.1% increase from the previous year. The remaining $16.3 million was collected by retail sportsbooks, an increase of 8.2% over August of the previous year.
Sports betting income in the state totaled $25.4 million, up 5.9% from July and 49.5% year over year. Mobile sportsbooks made up $22.7 million of this total, up 51.2% from the previous year, with a 10.4% hold. With a hold percentage of 16.5%, retail sportsbooks recorded a higher income of about $2.7 million.
Retail books and sports betting sites in Louisiana paid close to $3.7 million in taxes last month, an increase of 5.3% from the previous month and 75.3% from the previous year. Retail sportsbooks contributed $268,342 to the total, with mobile providers contributing $3.4 million.
For mobile sportsbooks it was the parlays that dominated and then it was “other” bets that came in second most often, bringing in over $4.5 million in income. Football came in third place with around $2.1 million in revenue. The biggest month-over-month rise of any bet type, up 649.0%, was seen in mobile football bets when compared to the $279,093 that was wagered on football previous month. Given that the 2024–25 NFL season began in September, football income may increase once more.
August’s revenue was primarily derived from baseball bets, which accounted for $2.05 million. Basketball and soccer followed with $579,552 and $553,132, respectively. Basketball recorded the biggest monthly revenue decline, down 64.3% from July to July. Football, on the other hand, ranked second in terms of retail income, with $1.3 million, the biggest rise (889.2%) from July. Next, in retail sportsbook revenue, baseball brought in $308,513, soccer brought in $47,942, and other bets brought in $47,482.
Four years ago in November, voters authorized legal sports betting in the state of Louisiana, and in June of that same year, the state legislature created a framework for both retail and online sports betting. In October 2021, the Pelican State saw the opening of its first retail sports book, Betfred Sports at Paragon Casino Resort. Six operators offered legal online sports betting when it first opened in January 2022.
Eight of the top US sportsbooks, including Caesars, DraftKings, FanDuel, BetMGM, Fanatics, bet365, BetRivers and ESPN BET are currently based in the state.Check out the latest sports betting odds at Caesars.
