Louisiana’s Sports Betting Industry is Set to Launch Soon

By in Industry on
4 Minute Read

For years, lawmakers in Louisiana have been looking at ways to finally launch the state’s sports gambling industry. It hasn’t been easy, yet things seem closer to launching than ever before. Now is the perfect time to talk about how Louisiana’s sports betting industry gets up running in the near future.

There are some major developments being made here right now. Governor Edwards has a big decision coming up to finally get things moving.

Here’s what you need to know!

States Report Fluctuating Sports Gambling Revenue Figures Through 2021

The US Supreme Court struck down PASPA back in May of 2018. This decision changed the country’s gambling industry in a major way. PASPA’s removal immediately gave every state the ability to launch and regulate its own sports betting options.

This is proving to be an extremely profitable industry for these states. Some are proving to have more lucrative sports gambling markets than others.

In March of 2020, the entire US sports industry shut down. All major leagues were forced to halt their operations. It took months for any of these sports leagues to begin holding live events again. Interestingly, sports betting revenue almost immediately began to surge once these leagues started operating again.

Many states set new monthly revenue records throughout 2020. It now appears that 2021 will be another hugely successful year in the sports gambling world. Different areas of the country are now seeing fluctuating revenue figures from their sports betting operations.

Illinois is now home to the second-largest sports betting market in the country. This past April, however, the state’s sports gambling handle fell by nearly $100 million. Oregon saw $2.4 million in sports betting revenue this May, representing a slight drip from the $2.7 million earned last April.

It now appears that Louisiana is set to get its sports betting options up and running. Here’s what you need to know about this situation.

Louisiana’s Sports Betting Industry is Closer to Launching Than Ever Before

Louisiana is known for having one of the most passionate sporting fan bases in the country. Several popular professional sports teams are based in this state. For this reason, many analysts believe it could grow to become one of the largest sports betting markets in the US.

A group of lawmakers has been working hard to legalize sports betting here since 2018. They faced some serious backlash early on, yet continued to praise the benefits of legalization. Eventually, a sports gambling bill was approved by the Louisiana Legislature.

This week, the bill was sent to Governor Edwards’ desk for final approval. If given the green light, Louisiana’s sports betting industry could go live by this fall. Sen. Rick Ward, R-Lake Charles, believes it’s long overdue for this industry to launch considering the demand in the state.

“We’re simply putting in place the rules and regulations for something that our constituents have told us they wanted,” he said.

With approval from the governor, both land-based and online sports betting will become available here. Retail sportsbooks will open up across various casinos, racetracks, and bars. Online sports betting will be allowed in 55 of the state’s 65 parishes.

Everything comes down to Governor Edwards now. It seems highly unlikely that he would choose not to approve these measures at this point in the regulatory process. We’ll be sure to report on his official decision over the next few days. Stay tuned for updates!

Top Sporting Events to Bet on in June

Sports betting is more popular now than ever before. Many states across the country are currently regulating their internet sports gambling industries. Fortunately, there are several world-class online sportsbooks available around the entire country.

BetOnline is one of the most popular options. This site launched nearly a decade ago and is known for offering a huge range of odds on various sporting events. There are some great wagering options available to members here throughout the month of June.

Many combat sports fans are jumping at the opportunity to bet on this Saturday’s UFC title fight between Israel Adesanya and Marvin Vettori. Adesanya (-265) earned a win over Marvin back in 2018 and feels confident he will do it again this weekend. Vettori (+225) is now riding a five-fight win streak and believes he will become the first Italian UFC champion in history.

Soccer fans may be jumping at the opportunity to bet on the 2021 Euro Cup. This massive European tournament kicks off on June 11 and runs through July 11. BetOnline is already offering its members the opportunity to bet on which team ends up winning.

It’s a great time to be a sports fan. There are some truly incredible events taking place throughout June, July, and August. Head over to BetOnline today to see all of the odds being offered.

Do you expect Louisiana’s sports betting industry to launch this fall? Let us know in the comments section below!

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...

View all posts by Kevin Oldroyd
Email the author at: [email protected]