LouisianaSharp.com Projects $175 Million Louisiana Online Sports Betting Market
NEW ORLEANS, July 21, 2021 /PRNewswire/ — The Louisiana state legislature approved online and retail sports betting earlier this summer. Up to 41 online sports betting licenses and 20 retail sportsbooks could eventually operate in the Pelican State. LouisianaSharp.com projects that the market could bring in $175 million in annual online sports betting revenue.
Geoff Fisk, Senior Analyst for LouisianaSharp.com, said, “Louisiana’s decision to go with a competition-based sports betting market is a win for operators and the state alike. We might not see all 41 online licenses awarded, but the structure is in place for every major name in sports betting to set up shop in the state. That setup has led to success in the nation’s leading sports betting markets, and Louisiana should continue that trend.”
The state’s sports betting bill calls for a 15% tax on mobile sports betting revenue and 10% on land-based revenue. Based on LouisianaSharp.com’s projections, sports betting would allow the state to collect $30.6 million in annual taxes.
LouisianaSharp.com reached the $175 million projection through careful analysis of other legal markets and by comparing states with similar populations.
Fisk continued: “SEC games and the College Football Playoff mark some of the biggest events on the sports betting calendar. LSU is often involved in the biggest college football games of the year, and we can expect plenty of wagers on the Fighting Tigers coming out of Louisiana. There isn’t any nearby competition, for now, from other states with online sports betting. That factor could draw sports bettors to Louisiana from Texas and several other states.”
Contact: Cole Rush, PR Lead, [email protected]
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