How Soon Will Mobile Sports Betting Launch in Louisiana?
The Louisiana Gaming Control Board posted its first sports betting and revenue report in its first month of joining the sports betting industry. For November, the eight retail sportsbook operators in the state generated a combined total handle of 27.6 million.
What is the Time Frame of Launching Online Sportsbooks
Retail operators in Louisiana had a good November as they reported net revenue of approximately $5.7 million. That noted a hold of 20.6 percent, and the state taxes those proceeds at a ten percent rate. Also, twenty-five percent of the tax revenue goes towards early education funding.
However, Louisiana may gear towards making mobile sports betting a reality in the state. It is noted to be a lucrative business as many other states with record-breaking handles were achieved due to online sports betting. Mobile sports betting is expected to launch before the Super Bowl as the market heads into the new year.
The issue is that the online platforms may not launch simultaneously as sportsbooks need to go through necessary background checks to get approved.
Ronnie Johns, the chairman of the Louisiana Gaming Control Board, wants to roll out several mobile sportsbooks at once, but a few of the operators who are potential applicants to establish a market have not applied for a license.
His goal is to roll out eight to ten sportsbooks by the targeted January 15th launch date. There are at least twenty licenses available for online sportsbooks regarding commercial casinos and racetracks throughout the state.
Each of the twenty license holders is allowed to have two skins meaning the sportsbook will be able to use an online or mobile app platform. The Louisiana Lottery Corp. is allowed only to operate one skin bringing the potential total to 41 in the Pelican State.
According to Major Chuck McNeal of the Louisiana State Police, thirteen applicants have applied to operate online sports betting in the state late last week.
McNeal couldn’t give an exact as to when mobile sportsbooks will launch in the state as state police troopers are examining internal controls, so everyone involved doesn’t run into issues before allowing bettors to place wagers.
Gov. John Bel Edwards signed a bill last summer that would allow sports betting in 55 of the 64 parishes. Nine parishes were against gaming as they expressed their concerns in the 2020 state election.
FanDuel Group Through IGT PlaySports Launches in Louisiana
FanDuel Group expands its market as it will be powered by IGT PlaySports technology to enter the state. Five Boyd Gaming facilities will allow FanDuel Sportsbook to establish retail locations amid the potential of online sportsbooks launching soon.
In December, Delta Downs Racetrack Casino Hotel in Vinton was the first to go live.
Chest Casino in Kenner and Evangeline Downs Racetrack Casino & Hotel in Opelousas were the following locations to get approved. Amelia Belle Casino in Amelia and Sam’s Town Hotel & Casino in Shreveport are expected to open in January, pending regulatory approval.
For now, FanDuel still sees a market for retail sports betting in the state. Louisiana may want to push for mobile sports betting as soon as possible as neighboring states like Arkansas are close to launching online sportsbooks.
The Racing Commission is set to vote on December 30th to allow sports betting throughout the state.