The sports betting craze continues as Louisiana is planning to be one of a few states to launch legal online sports betting by football season. Maryland, Connecticut, and Arizona are the others. Louisiana has been a state talking about legalizing for weeks now, and they just passed the sports betting regulation bill through. They will now begin to establish regulations and hammer out the final minor details before final approval. Everything is looking very good for those in Louisiana. The House passed the bill 78-15, and the Senate passed 31-6.
LA To Be A Friendly Operator State
Louisiana has some betting backgrounds already, with a land-based casino and several riverboat casinos in the area. They also have a few horse tracks. The bill allows each to partner with two sportsbooks, which could bring nearly 40 total skins into the state. Sportsbooks can also open a retail location at these casinos and horse tracks. The state lottery system could also link up with an operator and run a sportsbook.
Operators are expected to be taxed at a 10-15% rate, which is in line with other states, and the application fee is $250,000. There will be a $500,000 licensing fee that lasts five years before renewal.
College Sports Betting
We all know college football is big in the state of Louisiana, and some states have banned in-state college betting. Louisiana is not going to be one of those states, so those in Louisiana can jump for joy that they can wager on the LSU Tigers in addition to all college sports teams. Live betting and prop betting will not be included as that is the norm for states around the country.
What Sportsbooks Will Be Available?
Given the friendly operator deals, Louisiana will likely see the major sportsbooks within the state but also joined by some of the secondary ones. FanDuel, DraftKings, and BetMGM are expected to launch in the state. We could also see Caesars, WynnBet, PointsBet, Barstool, and others also join. They will go through a registration process and need to partner with one of the retail casinos in the state to begin operating.
When To Expect First Wagers
Generally, we see states approve and legalize sports betting over the spring and summer. They will need to hammer out all the details and regulations before moving forward but are fully expected to do so. Once that occurs, sportsbooks can begin to move in for approval and partnership. The state was able to approve this early and will have the summer to finalize everything.
The start of the NFL season is the date many will shoot for, and it seems very likely they will be able to get everything done. There is no hard deadline, but the NFL season is the biggest for sports betting and brings in the most revenue. Other states will be launching around the same time, and Louisiana is set out to join them. Keep your eyes out for more details over the next few months as the news will roll out on a more clear start date.