Louisiana in-person sports betting has been a win so far – Saturday Down South

Robert Linnehan | 6 days ago

Louisiana online sports betting has yet to launch, but the state has had a nice opening to sports betting since its October 31 launch.

According to Louisiana State Police Gaming Enforcements November revenue report, eight casinos accepted $27.6 million in sports bets from Oct. 31 through November. The net proceeds reported by casinos were nearly $5.7 million over that period of time.

The Louisiana State Police Gaming Enforcements report does not break down handle or revenue for each of the eight casinos that accepted retail sports bets over that time. However, it did note what types of bets were the most profitable for casinos.Casinos won the most money for sports bettors through parlays, reporting $3.7 million in net proceeds from parlay bets. Football bets accounted for the most profit for casinos out of the top four sports, netting $1.57 million.

The casinos paid $568,570 in taxes to Louisiana.

Here are the bet types that have been most profitable for the casinos:

The vast amount of revenue and handle will be collected when Louisiana launches online sports betting. Louisiana Gaming Control Board Chairman Ronnie Johns previously told Saturday Down South he hopes to have Louisiana online sports betting up and running before Super Bowl LVI on Feb. 13, 2022.

The gaming board chairman said the target date for Louisianas online sports betting launch will be for mid-January. Johns said he expects several sportsbooks to be licensed on the mid-month launch date.

The properties need to be inspected by the Louisiana State Police prior to receiving their online licenses. Additionally, internal controls need to be verified and compliance inquiries need to be made before licenses can be approved.

It all equals a mid-January launch if everything goes smoothly.

While Louisiana has missed out on most of the online sports betting revenue for this NFL season, Johns said its important for the state to have its online sports betting program launched prior to the Super Bowl.

So what will be available when online sports betting is launched? FanDuel and DraftKings both currently offer Daily Fantasy Sports contests in the state and will also be part of the online sports betting launch as well.

Caesars Entertainment has also been confirmed, as the sportsbook app is already available for download in Louisiana. Users cannot place bets as of yet, but can register and fund accounts.

Caesars will offer in-person sports betting at its properties Harrahs New Orleans and Horseshoe Bossier City. Each casino will soon take in-person bets at temporary retail locations, before the unveiling of their new Caesars Sportsbooks. In the fall of 2022, Isle of Capri Lake Charles will be renovated into Horseshoe Lake Charles and reopen with an additional Caesars Sportsbook location.

Additionally, Caesars acquired a 20-year, exclusive naming-rights partnership with the New Orleans Saints to rebrand New Orleans downtown stadium as the Caesars Superdome. Caesars Sportsbook is also the official sportsbook partner of LSU Athletics.

WynnBET will also be available in the state, as the company announced it secured online sports betting marketaccessthis past October. A source previously toldSaturday Down Souththat WynnBET has secured a partnership for its online sports betting app through one of Caesars physical casino properties in Louisiana.

WynnBET is currently available in Arizona, Colorado, Indian, Michigan, New Jersey, Tennessee and Virginia.

Its safe to assume the Barstool Sportsbook will also be available, as Penn National Gaming has partnered with two casinos that currently offer in-person sports betting. LAuberge Casino Baton Rouge and Boomtown Casino Hotel both offer in-person sports betting and are Penn National Gaming properties.

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Louisiana in-person sports betting has been a win so far - Saturday Down South