LAFAYETTE, La. (KLFY) — Get ready for mobile sports betting in Louisiana.
“It’s the fad of the industry,” said Eric Ramsey, gaming analyst for PlayLouisiana.com “It’s where the money is right now, and where the sponsorship opportunities are. It’s the next big thing in Louisiana gambling.”
You have the green light this Friday, January 28th, to place sports bets online. Louisiana is one of 19 states, and Washington D.C., where it’s now legal.
And, what do you know?! The Super Bowl is right around the corner.
“It’s not a surprise where they are trying to take advantage of the natural interest in betting this time of year,” said Ramsey.
It’s estimated that online sportsbooks in Louisiana will eventually create, on a yearly basis, $2.5 billion in wagers, and generate more than $200 million in operator revenue.
“Look, let’s be honest. We’ve had sport betting in this country forever,” said Ronnie Johns, chairman of the Louisiana Gaming Control Board.
Millions of dollars in state tax revenue generated will go to early childhood education, compulsive gambling programs, and local governments.
“I think after a month or two of online betting, we’re going to have a lot clearer picture, and make good assessments of what our actual revenue is going to be on an annual basis for the state budget,” said Johns.
Several big name gaming brands, including Betfred, BetMGM, Caesars, Draftkings, and Fanduel, are licensed to take remote sports bets from most, but not all people in Louisiana.
Sports betting was approved by the voters in 55 parishes, but voters in nine parishes in north Louisiana rejected the idea. Therefore, the state-licensed online casinos have put technology in place for ‘geofencing’, to block people in those nine parishes from betting.