No Cause for Concern as USA Sports Betting Figures Fall

Sports betting has been a great success in the USA but recent figures in some states have been disappointing. That includes New York and Louisiana with the latter seeing retail sportsbooks reporting their lowest ever sports betting handle in April.

While $208.3 million was accepted in wagers in Louisiana last month by retail sportsbooks, the handle was just $22.2 million. Both figures were lower than those recorded in March. There was a 10.5% fall in the amount wagered. The fall in the sports betting handle was 17.8%

March was an important month as it was the first full one since mobile sports betting was legalized in Louisiana. 89.3% of betting activity last month in Louisiana was carried out online. There are seven mobile sportsbooks in the state and they accepted a total of $186 million in wagers during April. That also was a lower figure than in March with a 9.5% fall.

The total gross revenue in the state from gambling was $6.1 million. That was a massive 80% down on the March figure of $30 million. The amount of money the state received in sports betting tax amounted to $2.6 million.

New York has been doing great business since mobile sports betting was legalized. However, the seven days to May 15 saw the eight online sportsbooks record a handle of only $286.21 million.

That’s the lowest ever weekly total and only the second sub $300 million figure since the launch of mobile sports betting on January 8. Gross gaming revenue for the eight sportsbooks was still healthy at around $31 million.

There seems to be little concern over the lower figures. It’s a period of the year when there are no NFL matches being played and fewer NBA games as it’s now the play-offs.

In Ohio, applications are soon to be received for sports betting licenses in the state. The Ohio Casino Control Commission (OCCC) are expected quite a few applications with a figure of around 3,000 a possibility.

The state had been hoping to begin legalized sports betting in time for the World Series and start of the NFL season. That’s not going to happen though, and the launch is now likely at the start of 2023. At least it’ll be up and running in time for the Super Bowl.

The license application process will take a long time to complete. OCC spokeswoman Jessica Franks explained: “We’re going to need to do all those investigations to issue those licenses and then make sure they’re in compliance with all the rules and regulations. We’re going to need all that time right up until January.”