6 Sportsbooks Launch on Louisiana’s First Day of Legal Betting
- Six sportsbooks went live in Louisiana on Friday morning and immediately began taking bets -- DraftKings, FanDuel, Barstool, BetRivers, BetMGM and Caesars.
- It's the first time online wagers in The Pelican State will be accepted. Louisiana launched in-person betting in late October.
- Expect more operators to enter the fold in the coming weeks and months as up to 41 sportsbooks can get into the market.
Six sportsbooks in Louisiana have launched on Friday morning, ushering in the online sports betting era in The Pelican State.
The Louisiana Gaming Control Board announced earlier this week that bets could legally be placed online and on mobile phones beginning at 8 a.m. CT on Friday.
Six books launched right away Friday in Louisiana:
- DraftKings (confirmed live)
- FanDuel (confirmed live)
- Caesars (confirmed live)
- BetMGM (confirmed live)
- BetRivers (confirmed live)
- Barstool Sportsbook (confirmed live)
This has been a long time coming for Louisiana. The sports betting bill was originally signed in June by Gov. John Bel Edwards following voters approval. However, brick-and-mortar sportsbooks didn't launch until Oct. 31 when Harrah's opening its book in New Orleans.
Mobile sports betting was voted on and passed in November of 2020. Final approval of sportsbooks for the initial launch was then completed this week.
“We're proud that BetMGM will be in the first wave of operators to launch mobile sports betting in Louisiana this Friday," BetMGM CEO Adam Greenblatt said in a statement. "We thank both the Louisiana Gaming Control Board and the Louisiana State Police and look forward to parlaying BetMGM’s success in neighboring regions into a long, successful, and responsible relationship with sports fans in the state."
The sports betting bill will allow as many as 41 total online operators, though the number will likely be lower when all is said and done. While just six will launch on Friday, several more are expected to follow in the coming weeks and months.
Those sportsbooks include Betfred, Golden Nugget and WynnBet. And because of favorable operator conditions resulting in a low barrier to entry, expect plenty of books to try to make their mark in Louisiana.
Louisiana will offer a full range of bets, including point spreads, moneylines, totals, futures and player props. This includes wagering on college sports, which has been excluded in some states such as Illinois.
The extra tax revenue will greatly benefit the state. Mobile books are taxed at 18%. Retail books are taxed 10% on their profit. This is a much better deal for the books compared to states like New York with a 51% tax rate.
It is great timing for the state to launch with the AFC and NFC Championship Games on its opening weekend. That includes LSU legends Joe Burrow and Ja'Marr Chase suiting up for the Cincinnati Bengals against the Kansas City Chiefs.
While the Bengals are longshots, Burrow is fifth on the oddsboard at DraftKings to win the Super Bowl MVP at +1000 (bet $100, profit $1000). Chase is +3500.
LSU's men's basketball team is ranked in the top 20 in the country with a 16-4 overall record. They've been profitable for bettors with a 14-6 record against the spread.
The Louisiana-Lafayette Ragin' Cajuns are hovering around .500 at 9-8 with a 9-6 record against the spread.
In the NBA, the Pelicans have struggled without Zion Williamson. They're 18-29 on the year with a 22-24-1 record against the spread.
The Saints are +3500 to win the 2023 Super Bowl, although there will be a new look on the sidelines with Sean Payton stepping away as head coach.
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