In January 2022, sports betting was officially launched in Louisiana and it quickly became a popular form of gambling. However, there are still nine parishes within the state that have not legalized sports betting.
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Both online and retail wagering are available in Louisiana, but the majority of bets have been placed online since its launch. This follows the trend seen in other states with legal sports betting.
During peak months of the sports calendar, the United States typically sees a total betting handle exceeding $5 billion. While Louisiana may not be one of the top markets for sports betting, it has still contributed significantly to overall numbers.
With up to 40 online sports betting licenses available, Louisiana has ample room for growth in the future. While currently not close to that number, the state has successfully attracted top industry names
The Evolution of Sports Betting in Louisiana
In November 2020, Louisiana approved sports betting on a parish-by-parish basis, with 55 parishes giving the green light. However, it took over a year for online sportsbooks to launch in the state.
Unlike other states that have quickly legalized and launched sports betting, Louisiana’s process was much longer. Retail betting is limited to racetracks, riverboat casinos, and one land-based casino.
Initially, the Louisiana Lottery was expected to play a significant role in sports betting by offering retail betting at bars and restaurants. However, this plan fell through when the lottery ended its search for a sports betting partner.
In the first year of online sports wagering in Louisiana, the total handle reached $1.8 billion, showcasing the potential for growth and success in this market.
Louisiana’s Path to Legalizing Sports Betting
In November 2020, Louisiana became one of the few states where citizens had the power to decide on the legalization of sports betting. The majority voted in favor, paving the way for sports betting in this state.
Several attempts were made by lawmakers to legalize sports betting through legislation, but none were successful. After the vote in November, legislators reconvened to discuss the regulations for this new industry.
In total, Louisiana can issue up to 20 retail sports betting licenses and double that number for online operators. However, currently, there are not many licensed sportsbooks in operation.
There are still nine parishes within the state that have not yet legalized sports betting:
- Caldwell
- Catahoula
- Franklin
- Jackson
- La Salle
- Sabine
- Union
- West Carroll
- Winn
Opportunities for Sports Betting in Louisiana
While the approval of sports betting in 55 parishes provides a significant opportunity for bettors, retail betting options are currently limited to only a few locations. However, the potential for growth is evident as there could be up to 20 retail sportsbooks in the state.
As of now, there are only 10 retail sportsbook locations in Louisiana:
- Boomtown Casino Hotel
- Boomtown Casino & Hotel New Orleans
- Golden Nugget Hotel & Casino
- Harrah’s New Orleans Hotel & Casino
- Horseshoe Bossier City Hotel & Casino
- L’Auberge Casino & Hotel Baton Rouge
- L’Auberge Casino Resort Lake Charles
- Margaritaville Resort Casino
- Paragon Casino Resort and Hotel
- Sam’s Town Hotel & Casino
However, online sports betting has become the dominant method for bettors in Louisiana. While there are not many options available, some of the biggest names in the industry have chosen to launch their platforms in this state.
Regulations and Rules for Sports Betting in Louisiana
While the options for where to bet in Louisiana may be limited, the rules and regulations for sports betting are similar to other markets. One key difference is that the legal sports betting age in Louisiana is set at 21 years old, with no targeting of younger individuals allowed through advertisements.
There is a wide variety of betting options and types available in Louisiana, providing sportsbooks with ample flexibility. Additionally, betting on collegiate events within the state of Louisiana is legal.
Esports betting is also allowed in Louisiana, but there are restrictions in place. The Louisiana Gaming Control Board oversees sports betting and must approve each esports competition before it can be offered as a legal option.
The tax rate for online sports betting revenue is set at 15%, while retail sportsbook revenue is taxed at a lower rate of 10%.
Top Sports and Events for Betting in Louisiana
One factor that can greatly impact the success of sports betting within a state is the presence of professional teams. Fortunately, Louisiana has several popular teams based in New Orleans.
The New Orleans Saints are easily the most prominent team in Louisiana, with a massive following during the NFL season. Football is typically the most bet on sport, and sportsbooks in Louisiana will undoubtedly offer plenty of betting options for the Saints.
Another popular team in Louisiana is the New Orleans Pelicans of the NBA. With a number of talented players, this franchise has garnered a strong fan base and drives significant wagering activity during basketball season.
The Louisiana State Tigers are another beloved team in Louisiana, particularly when it comes to their successful football program. However, the Tigers also have strong basketball and baseball teams that attract betting interest as well. With college sports betting allowed in Louisiana, these teams provide additional opportunities for bettors to get in on the action.
Advice for Newcomers to Louisiana Sports Betting
As a newcomer to the world of sports betting, it can be overwhelming trying to navigate through all of the available options. However, with some helpful tips and strategies, you can increase your chances of success right from the start.
For starters, it’s crucial to have a set budget in mind when starting out with sports betting. Decide how much you are willing to invest and stick to this amount, even if you experience some initial losses.
Next, take the time to familiarize yourself with the various types of bets available. This will give you a better understanding of your options and allow you to make informed decisions when placing your wagers.
It’s also important to remember that not every day will present ideal betting opportunities. Be patient and selective, and only place bets when you feel confident in your choice.
The Future of Sports Betting in Louisiana
The legalization of sports betting in Louisiana has already seen impressive numbers, with over $1.8 billion in wagers and $32 million in revenue in the first year alone. Since then, there has been a lot of speculation about what lies ahead for this industry. With some big changes already taking place, it’s safe to say that the future looks bright.
In 2023, we saw some major partnerships being formed between operators and media companies, such as PENN Entertainment with ESPN and Fanatics acquiring the U.S. assets of PointsBet. This will undoubtedly have a huge impact on the sports betting market in Louisiana.
Moving forward, it’s expected that more operators will enter the state’s market, bringing even more options for bettors to choose from. By the second half of 2024, it is estimated that there will be at least ten online sportsbooks and up to 15 retail options for sports betting in Louisiana.
