Louisiana Sports Betting Exceeds First-Year Expectations

Sports Betting Louisiana » Louisiana Sports Betting Exceeds First-Year Expectations

Louisiana’s sports betting industry is off to a great start. According to Ronnie Johns, Chairman of the Gaming Control Board, the first year of Louisiana sports betting has far exceeded expectations in terms of tax revenue for the state and regulatory processes. The lack of issues from a regulatory standpoint shows that responsible gaming is being respected and enforced, something which bodes well for the longevity of the new industry here in Louisiana.

“We could not be more pleased with the first year, we’ve had virtually no problems,” Johns said. “Obviously you want your numbers to be good for it to be successful, and it has. But as a regulator, first and foremost, you want things to go smooth and compliant and we’ve had no problems.”

Higher-than-anticipated Revenue

When Louisiana made the move towards legalizing sports betting, legislative estimates had expected the state to make up to $30 million in its first year. Proving to be just as successful as anticipated, a report from Johns has declared that Louisiana has managed to generate an impressive $32 million within the year 2022, and Johns believes that this number is only likely to rise with the introduction of the NFL betting season.

Wagers placed have amassed over $2 billion during the calendar year alone, and further investigation revealed that 85% of those bets were being placed online – suggesting sportsbook retail shops which opened in October 2021 and the launch of online betting platforms at the end of January 2022 has done particularly well.

Betway To Enter Louisiana’s Online Sportsbook Market

Betway’s entrance into the Louisiana sports betting marketplace is quickly approaching. The operator is reportedly planning to launch in the first quarter of 2023, making it the ninth online sportsbook in the state. While there are 40 available skins, Ronnie Johns stated that he has not had any conversations regarding the open slots. Operators located in Louisiana are:

Additionally, Fanatics recently expressed its grand intentions to be present in 15-20 markets for the kick-off of the 2023 NFL season; however, Johns clarified that he has not had any discussions with them either. With Betway just around the corner, we can’t help but wonder what this upcoming regulated sports betting landscape will look like.