-
Casinos for you
Louisiana Gears Up for a November 1st Sports Betting Debut
By Jeff Osienya Oct 24, 2021 IndustryLouisiana’s retail sports betting market is expected to go live on November 1st as the state’s Gaming Control Board continues to make final preparations. Mobile sports betting is, however, going to trail the retail debut in a few months.Last Thursday, the Louisiana Gaming Control Board (LGCB) held its monthly meeting to discuss the progress on the launch of regulated sports betting at retail casinos in the state. The board Chairperson Ronnie Johns announced that state residents could start placing wagers legally on November 1st as the first properties are close to receiving their first licenses.
In the meeting, Johns said that his LGCB team is working to avoid a one-by-one rollout of sports betting facilities in favor of a batch-based launch. The LGCB chair plans to sign as many licenses as possible to make the process quicker and more efficient.
According to the regulated gambling legislation signed into law back in June, the LGCB can award up to 20 licenses for casinos and racinos in the state. To date, only 13 gambling properties have submitted license applications, and the regulators plan to approve them on a first-come, first-served basis. Among the 13 applicants are some racinos, riverboat casinos, and Harrah’s land-based casino. The seven gambling venues remaining are expected to submit their applications before January 1st, 2022.
It’s worth highlighting that sports betting in the Pelican State was initially expected somewhere in September before Johns announced October 1st as the potential debut date. However, Hurricane Ida struck between August 26th and September 4th, and Louisiana State Police’s Gaming Enforcement Division officers had to be drawn away from their regulatory responsibilities and instead deployed in rescue and recovery missions. This led to the subsequent delay of launching legal sports betting for two weeks as review and approval processes were put on hold.
FanDuel Given the Okay to Offer DFS Contests Okayed Across 47 Parishes
In the Thursday meeting, the LGCB also voted unanimously for DFS steamroller FanDuel to join its most formidable competitor DraftKings in offering daily fantasy sports contests in the Pelican State. However, like DraftKings, FanDuel will be rolling out its DFS platforms to only the 47 parishes that voted in favor of the activity in the November 2018 ballot.
After Louisiana announced that it was welcoming DFS license applications in February, DraftKings jumped at the opportunity, and by mid-July, the operator had received its license. Given that FanDuel was beaten to the fantasy sports market in the Pelican State, it will remain second fiddle to DraftKings, as is the case in many other US states. However, while DraftKings is available in 44 US states, FanDuel’s entry into the Pelican State grows its presence to a total of 47 states.
According to a report submitted by Tammy Hop, an auditor of the State Police Gaming Division in Louisiana, FanDuel expects to win an annual revenue of about $1.5 million for its first year of operations in the Pelican State.
Tribal Sports Betting is Already Underway, Mobile Sports Betting Months Away
Additionally, the LGCB chair pointed out that tribal gaming is already underway in Louisiana. Paragon Casino in Marksville, for instance, owned and operated by the Tunica-Biloxi Tribe of Louisiana, has been taking sports wagers since October 6th in its Betfred Sportsbook. Thanks to gaming compacts that tribal nations in Louisiana have with the federal government, they are allowed to offer different forms of gaming’s that state residents approved on the ballot.
About the tribal operations, Johns also commented that he hadn’t visited the Paragon Casino Betfred Sportsbook yet but agreed that it was a welcome addition to Louisiana’s sports betting scene. Given that the Betfred Sportsbook is on tribal land, it did not require a sign-off from the LGCB chair to begin operations.
Meanwhile, while retail sports betting in the Pelican State is preparing to go live in a fortnight, the LGCB doesn’t have good news for Louisiana residents looking forward to online and mobile sports betting. In the Thursday LGCB meeting, Johns said that mobile betting was at least “a couple of months away” mainly because of the extensive compliance process involved in its setup.
As of now, the Louisiana State Police has completed investigations of all licensed properties but will need more time to conduct a review on betting websites and mobile applications. Still, the LGCB chair indicated that they plan to have it up and running by the beginning of 2022. Per the state’s gaming law, each of the 20 properties with a gaming license in the state will be allowed to offer up to two skins of online and mobile sports betting.
In Thursday’s meeting, the other crucial subject of discussion was approving the $16.5 million sale of Louisiana Downs by Caesars Entertainment to Rubicon Gaming. According to sources close to the matter, this transaction has been in the works for over a year. The final green light is expected to be issued during the October 26th meeting of the Louisiana Racing Commission.
You might also like