Louisiana lawmakers expect to take another look at sports betting next year

December 11th, 2018 Louisiana Online Gambling
Louisiana lawmakers expect to take another look at sports betting next year

Lawmakers in Louisiana are feeling the pressure from neighboring states, and are looking to make a serious push for legal Louisiana sports betting in 2019. During a State Capitol hearing in October, Senator Norby Chabert commented on the concern, "If we don't address it, the world will be way out ahead of Louisiana and we're going to be lagging behind." This is in direct response to the realization that Mississippi sports betting has been reaping the benefits since Aug. 1. As the state revenue has been rolling in, the understanding is that some of the bettors are coming from southeast Louisiana. And now that there is legal Arkansas sports betting appears near, this may take bettors from northern Louisiana that could line the state's coffers.

 

Louisiana Looks to Keep Pace With Mississippi Sportsbooks

Republican Senator Danny Martiny is in full support of legal LA sports betting, as he was one of the main supporters of a push in 2018 that stalled. However, after 47 of 64 parishes in Louisiana voted to legalize online fantasy sports gaming in November, he feels like the time is now for another substantial push for legal Louisiana sports betting. Martiny's proposal for a bill will include casino sports betting in Louisiana, and could possibly expand to racetracks and off-track betting. And there's big money involved for the state if approved, as estimates from the Gaming Commission say that sports betting could be worth as much as $288 million a year in LA. And if the state used the same tax rate on its riverboat casinos, that could bring up to $62 million.

 

Stars Group Looks To Get An Early Foothold On LA Sports Betting Market

One group seems to be gambling on legal LA sports betting, as The Stars Group has partnered with Eldorado Resorts to offer online sports betting, poker and casino games. Three casinos in Louisiana fall under that umbrella and the Stars Group could be positioning themselves to enter that market once sports betting is legal in Louisiana. Alan Silver, who specializes in sports betting, commercial casinos, racinos and online gaming, thinks that this partnership between Stars Group and Eldorado signifies a strong push to cement a piece of the market in advance of legal sports betting. Silver commented, "Look for a lot of jockeying between gaming companies that are exploring all the potential markets where sports betting is illegal but might become legal in the future," which would include Louisiana. The year 2019 may be a big one for US sports betting, with many states making a big push for legal sports betting, such as California, Missouri and of course Louisiana.

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