January 26, 2022
Social Media Intern
Louisiana is about to become the first state to allow mobile sports betting.
The Louisiana Gaming Control Board (LGCB) is finalising the segment's rules and regulations, but has yet to announce a definite debut date. However, according to Sports Handle, the rollout might happen as soon as this week.
Multiple industry sources have confirmed to Sports Handle that the LGCB will award interim mobile gambling licences on Friday, according to the article. This comes after WynnBET issued a press release on Tuesday announcing that pre-registration and deposits are now open in the state.
The LGCB refused to give a prospective launch date earlier this month. When Sports Handle reached out to the gaming regulator for an update this week, it remained deafeningly silent.
Bettors would be able to place bets before Sunday's NFL conference championship games if the site opened on Friday. In the AFC Championship, the Cincinnati Bengals will face the Kansas City Chiefs, while the NFC Championship will be decided between the San Francisco 49ers and the Los Angeles Rams.
The introduction will also open the door for mobile wagering on the Super Bowl, which will take place on February 13. In the United States, the NFL championship game is the most-watched and most-bet athletic event.
The addition of mobile sports betting to the rest of the NFL playoffs and the Super Bowl will dramatically boost Louisiana's sports betting tax income. This means that a variety of state initiatives will benefit as well.
According to Louisiana law, 25% of mobile betting earnings must be utilised to fund early childhood education initiatives. These scholarships were established by state senator Rick Ward to assist young children in entering the educational system. Fantasy sports betting generates tax income for the same programmes.
The availability of mobile sports betting for the remainder of the NFL playoffs and the Super Bowl will dramatically boost Louisiana's sports betting tax income. As a result, a wide range of state-sponsored initiatives will benefit.
Mobile betting money must be used to fund early learning programmes for children, according to Louisiana law. Senator Rick Ward established these scholarships to assist young children in entering the educational system. Tax revenue from fantasy sports betting goes to the same programmes.
Louisiana's sports betting sector is estimated to earn $30 million in tax revenue per year, according to The Monroe News-Star. Last November, the state stated that eight Louisiana retail sportsbooks generated more than $2.7 million in tax revenue, with a total handle of $27.6 million. Operator revenue from land-based sportsbooks is estimated to exceed $4 million per year.
The LGCB has the jurisdiction to grant the state up to 41 online betting licences. DraftKings, FanDuel, Caesars, and more well-known brands are anticipated to join. Other operators still have plenty of chances to get in on the action.
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