Gamblers from Louisiana spent $ 49.3 million on sports betting in January. The legal land-based business was launched in the state at the end of October 2021.
The bookmakers' revenue generated in January exceeded the betting industry’s income received in December ($ 39.5 million) by 24.8%. In November, the owners of sportsbook projects managed to earn even less — only $ 27.6 million. January figures exceed this amount by 78.6%.
The most profitable sports were as follows:
football — $ 1.5 million a month; basketball — $ 313,941.
According to data released by the authorities, the sum of tax revenues to the treasury exceeded $ 500,000 in January.
The Development of the Gambling Market in the State
The decision to allow sports betting in Louisiana was made by the government back in 2020. However, the process of legalising the industry lasted until October 2021 due to the need to adopt appropriate tax regulations.
Here are the first operators that entered the land-based market:
Betfred Sports — Paragon Casino Resort; Caesars — Horseshoe Bossier City Hotel and Casino and Harrah's New Orleans.
In January 2022, a legal online market began to operate in the state. Today, the following gambling companies are represented in the Louisiana internet segment:
Penn National Gaming; Caesars; DraftKing; Rush Street Interactive; FanDuel Group.
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