Louisiana's Growing Love for Parlay Betting in 2024

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00:00All right, news in from Louisiana, and boy, it is a tale as old as time.

00:08People still love betting on those parlays, Jim, right?

00:10Like, this is, I mean, that's pretty much been the story of sports betting in 2024,

00:16with all of the revenue that's come in with these parlays, insane game parlays.

00:19We didn't get any new states to legalize sports betting, so this is probably it.

00:24Yeah, and it's really the same old story with Louisiana, and to your point, you know, the

00:30growth of these parlays that we've seen over the last year, 18 months or so, you know, I think

00:37Louisiana is really a good picture of the overall scope of just how popular and how successful

00:47the popular combo wagers are, especially for the sportsbooks.

00:52In August, in Louisiana, $13 million was lost by bettors on parlays.

00:58That was 57% of overall sportsbook revenue for the month in Louisiana, and that came on the heels

01:05of July, which saw 65% of total revenue for the sportsbooks, so they're winning.

01:1365% in July came strictly from parlays.

01:18Now, the market is showing growth overall, both in handle and in revenue, largely because

01:26of those parlays, and we've seen over the last handful of months a lot of these sportsbook

01:33executives talking about the development of the parlay product, the enhancements of the pricing

01:40models that they use, which is ultimately benefiting them and making it harder to win

01:48the sort of lottery ticket type of parlay bets that have grown in popularity.