Louisiana Sports Betting: Fiscal Year Revenue Insights
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00:00All right, let's get to now some places we do have some revenue sharings in and numbers.
00:09We've got Louisiana, the latest sports book there.
00:13Jim, you sent a social media post about this yesterday as well.
00:17What's the latest there?
00:18Yeah, kind of more of the same like we've been talking about, Craig, over the last couple
00:23of months with Louisiana and these parlay bettors.
00:28So fiscal year figures, complete fiscal year figures, came in in recent days for Louisiana.
00:36Obviously that fiscal year running July through June.
00:40And the market did show pretty solid growth in overall handle.
00:46About $3 billion was bet over the last fiscal year, and that was up 37 percent.
00:53So a sizable increase over the prior fiscal year.
00:57Revenue was up as well, 73 percent, $358.2 million in this latest fiscal year that just
01:05ended in June, up from $206.8 million from the prior fiscal year in revenue.
01:13And Craig, like we've talked about many, many times in recent weeks and months, the parlays
01:19accounted for 70 percent of that revenue total for the sports books.
01:26So as we've seen, a lot of these sports books talk about enhancing their parlay product,
01:36better pricing, better app technology, better features, because obviously it is a huge driver
01:45of handle.
01:46And, you know, of course, as you string together multiple legs of parlays, the likelihood of
01:53you winning goes down and down and down.
01:56And the likelihood of the revenue coming to the sports books goes up and up and up.
02:02And I think what we've seen over the last couple of months and through that that latest
02:06fiscal year in Louisiana is that those sports books really do bank on those parlay profits,
02:12if you will, 70 percent of overall revenue in the latest fiscal year in Louisiana coming
02:18from those combo bets, Craig.