Strong Victory for Louisiana’s Betting Public

Brandon Ingram #14 of the New Orleans Pelicans. Christian Petersen/Getty Images/AFP

But they were definitely happier to operate in March. Since the revenue generated by sportsbooks is a frequent topic of conversation, it may be easier to forget that bettors have some abilities as well. 

The public does not simply always lose. Louisiana’s most recent sports betting revenue report reveals the extent to which the average bettor — so many average bettors, in fact — may hope to profit from wagering on sports.

Here is the betting report that leads to this conclusion, which is a dismal one for top sportsbooks to face.

Big Drop 

In terms of revenue, Louisiana’s sportsbook operates secured $6.1 million in April. This is an awfully low figure. In fact, it was 80 percent higher in March.

The overall handle was also lower in April than it was in March. The thing is, it’s not like Louisiana bettors are trying not to bet despite their relatively rough March.

They continue to bet as sporting events like the NBA playoffs unfold. However, sportsbooks won at a significantly lower rate.

While the public struggled in March, it bounced back in April. Kansas turned out to be a big source of money for Louisiana bettors.

The Jayhawks were favored to win it all by Louisiana’s bettors and rightly so. Moreover, New Orleans’ Pelicans were relatively noisy in the latest stages of the regular season.

Sports bettors based in Louisiana were likewise able to figure out the Pelicans. Despite having to dish out large sums of money to basketball bettors, the Louisiana sportsbooks gained tremendous amounts of money from parlays.

The public will often be greedy for more profit even in a month where it’s succeeding unusually well.

This greed helps diminish the pain and magnitude of sportsbook operators’ losses.

Perhaps knowing how profitable parlays are for sportsbooks will persuade bettors to place more straight bets at their favorite sports betting sites.