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Louisiana Online & Mobile Sports Betting Off to a Flying Start
By Jeff Osienya Feb 05, 2022 IndustryWithin the first 48 hours of activity, Louisiana is already showing the possibilities of a prosperous mobile betting market. According to GeoComply data, the number of transactions exceeds initial expectations, as Louisiana has fared better than New York.Sports betting in Louisiana has been legal for the last three months, since November 2021. However, according to state law, sports bettors were required to visit a retail sportsbook in person to place wagers on sporting events. Thankfully, a week ago, on January 28th, to be precise, mobile sports betting was finally okayed in the Bayou State.
Some figures for the first 48 hours of sports betting in Louisiana are out, and while it’s still too early to point to exact handle and revenue numbers, things are generally looking bright. The thought of a promising start is great news, ahead of the much-anticipated Super Bowl showdown between the Los Angeles Rams and the Cincinnati Bengals. Traditionally, wagering numbers in the days leading up to the big game are expected to shoot up exponentially. Having said that, here’s how Louisiana faired in its inception to mobile sports betting.
The Pelican State is Already the Gold Standard of Sports Betting in the Southeast
According to GeoComply, a digital identity verification software company, a good 2.68 million geolocation transactions were recorded in the first 48 hours of wagering in the Pelican State. By the end of Sunday’s games, more than 3.4 million transactions had occurred. Bear in mind that the transaction volume is not an equivalent measure of the total number of wagers but is still a strong indicator of market activity.
While the numbers aren’t nearly as impressive as what we saw with New York’s debut, they still blaze the trail in the Southeast. We have to give it up to Louisiana for showing strength in its figures especially considering its relatively smaller population and GDP when compared to The Empire State.
Moreover, when you compare the unique player transactions of the two states for the first 48 hours, the stats get even more interesting. The total volume of unique player activity in The Pelican State represented 3.6% of the adult population compared to 3.3% in New York. Louisiana has a population of nearly 5 million, whereas The Empire State boasts of almost 20 million residents.
The NFL playoffs when Joe Burrow and the Cincinnati Bengals completed a splendid comeback against the Kansas City Chiefs saw the busiest times in wagering. The peak of the wagering also came when the other NFL playoff game pitting the 49ers and the Los Angeles Rams was starting. According to GeoComply, downstate Louisiana did well, which really comes as no surprise to anyone, as the region hosts two of the most populous parishes.
Digging deeper into the numbers, Louisiana ranks an impressive position 8 nationally for the weekend regarding the total number of geolocation verification checks on GeoComply. Some of the legal mobile sports betting states that Louisiana bested in the said 48-hour period include Indiana, Tennessee, Colorado, and Connecticut, which were ranked at positions 9,10,11, and 12, respectively.
Strong Hopes for Mobile Sports Betting in Louisiana
Mobile sports betting in The Bayou State was ratified in a pretty unique manner compared to what we have seen in other states. The approval practice was conducted in a true Louisiana fashion –each parish was given the mandate to individually vote for whether it wanted to legalize mobile sports betting or not. In case you are wondering what a parish is, it’s just Louisiana’s way of saying county per-say brought upon by the state’s rich Roman Catholic past.
So, out of the state’s 64 parishes, only 9 voted against the proposal to make mobile sports betting legal within its jurisdictions. Overall, there are 19 commercial casinos in the state of Louisiana. All these casinos can apply for a sports betting license and can offer two online skins.
Again, it is pretty early to tell how much money we can expect from Louisiana’s just-launched mobile sports betting. This point was reiterated by Louisiana Gaming Control Board chairman Ronnie John. He said that it would take a month or two of online betting to get a clear picture of Louisiana’s actual annual revenue. However, industry experts are projecting a 30 million annual revenue stream this year, with the number expected to increase upon market maturity.
With a 10% taxation on retail sports betting GGR and 15% for online and mobile betting, Louisiana is set to reap big on a sector it was losing out on by a lot through illegal activity. If the first 48 hours of wagering are anything to go by, Louisiana is firmly in the conversation for one of the best mobile sports betting states in the country. As we speak, there are six operating sportsbooks in the state: Caesars sportsbook, DraftKings, FanDuel, BetMGM, BetRivers, and Barstool. While we are still in the early days, Louisiana has already set a laudable precedent for its future in the world of mobile sports betting.
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