Louisiana betting handle soars past $200 million in February
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Louisiana Mobile Betting Soars over $200 million in February
In the first entire month of legal mobile sports wagering in Louisiana, the online gaming companies operating in the state brought in over $211 million in wagers during February. According to the Louisiana Gaming Control board figures, including four days of legal mobile betting in January, the online sports wagering handle has surpassed $251.5 million.
Sports betting has been legal in the 55 of 64 parishes that approved the activity in a November 2020 state-wide referendum. The legal parishes include those home to the significant gaming hubs of New Orleans, Shreveport/Bossier City, Lake Charles, and Baton Rouge.
Several operators have been live in Louisiana since the state launched legal mobile betting on January 28. These include:
- BetMGM
- BetRivers
- Barstool
- DraftKings
- FanDuel
- Caesars
State generates millions in tax revenue from Mobile Betting
After winning, mobile bettors were given their money in February; the state collected $2.21 million in tax revenue.
According to the state Control Board, the online operators were permitted to deduct losses incurred from January incentives and promotions to attract new players for tax purposes.
Super Bowl boosts February numbers
The February mobile sports betting total covered the showpiece football event, which took place on February 13. The 2022 Super Bowl in Inglewood, California, saw the NFC’s Los Angeles Rams take on the AFC champion Cincinnati Bengals. The Rams lived up to their pre-game status as the favorites, defeating the Bengals 23-20.
The NFL’s marquee event saw a number of former Louisiana college football players participating, adding to the enthusiasm among Bayou State bettors.
One of the most high-profile players was Cincinnati quarterback Joe Burrow, who was the Quarterback for LSU when they defeated Clemson in the January 2020 national title game. Burrow enhanced his reputation by claiming the Heisman Trophy that season.
March Madness should maintain momentum
The betting totals in Louisiana are expected to remain robust during March, particularly with the LSU men’s and women’s basketball teams participating in NCAA basketball March Madness tournaments.
The men’s team start their campaign on Friday at the Fiserv Forum in Milwaukee against Iowa State. The women’s team, led by first-year coach Kim Mulkey, starts at home on Saturday in LSU’s Pete Maravich Center against Jackson State.
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