In April, the Louisiana sports betting handle declined despite hosting the NCAA Final Four games. According to basketball betting reports, sportsbooks got $208.3 million in wagering. 

The April handle was a 10.5 percent decrease from March's $232.7 million handle. Also, it was a 12.6 percent decrease from the 238.4 million in February. Retail sports betting launched in the state in November 2021. Online sportsbooks launched in January 2022. 

New Orleans facilitated the Final Four at the Caesars Superdome toward the start of the month.

In April, Chairman Ronnie Johns of the LGCB told sports betting bookie software experts that new players made 10,500 geolocation hits in New Orleans during the end of the week.

While it seems it forestalled as steep of a handle drop as found in different states from March to April, it didn't support Louisiana market development. 

Louisiana Sports Betting Handle Declined in April

Louisiana sportsbooks held only 2.9 percent for $6.1 million in gross income. That income is wealthy the $30.1 million, or 13% hold, the sportsbooks accomplished in March.

In February, sportsbooks created $17.3 million in income. So how do bookies make money? They earn a small portion of every wager no matter the outcome. First, however, they need to pay taxes. In April, the state gathered $2.6 million in taxes from sports wagering income.

Louisiana's seven mobile sportsbooks took $186 million in wagers or 89.3 percent of the general handle.

Sportsbook administrators deducted only $533,415 in special spending. In April, Johns said most administrators had utilized their yearly $5 million promotion derivations. The LGCB doesn't break out information by sportsbook.

Louisiana retail sportsbooks hit a record low, taking $22.2 million in bets. That figure is down 17.8 percent from the almost $27 million bets in March. In addition, it is down 55 percent from January's $49.3 million high point.