Louisiana Mobile Wagering Tops $211 Million in February
In the first full month of legal mobile sports betting in Louisiana, the online bookmakers operating in the state took in more than $211 million in wagers during February.
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Including four days of legal mobile wagering in January, the online sports betting handle has topped $251.5 million, according to Louisiana Gaming Control board figures released Monday.
Sports betting is legal in the 55 of 64 parishes that approved it in a November 2020 statewide vote. The legal parishes include those home to the major gaming hubs of New Orleans, Baton Rouge, Lake Charles and Shreveport/Bossier City.
The following online sportsbooks have operated in Louisiana since the state’s Jan. 28 launch of legal mobile wagering.
State Collects Millions in Taxes From Mobile Wagering
After winning mobile bettors were paid in February, the state collected $2.21 million in tax revenue.
For February tax purposes, the online bookmakers were allowed to deduct losses incurred from January promotions to attract new customers, according to the state Control Board.
Tax is the reason why other states are pushing sports betting regulation. For example, Kansas is looking to launch its sports betting this year. Kansas online sportsbooks would bring more money to the local government, as bettors are currently traveling to neighboring states to bet.
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Super Bowl Aids February Wagering Total
The February mobile sports betting total included the Feb. 13 Super Bowl betting numbers. The game in Inglewood, California, pitted AFC champion Cincinnati Bengals and the NFC’s Los Angeles Rams. The favored Rams rallied to defeat the Bengals 23-20.
The NFL’s marquee event this year, featuring a half dozen former Louisiana college football players, generated enthusiasm among Bayou State bettors.
Among the game’s high-profile players was Cincinnati quarterback Joe Burrow, who led LSU to a victory over Clemson in the January 2020 national title game. Burrow also won the Heisman Trophy that season.
Texas Bettors Boost Louisiana’s Handle
Louisiana also has benefited from Texans crossings the state line to place sports bets. Sports wagering is illegal in Texas.
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Louisiana is the only Gulf Coast state with legal mobile sports betting from Texas to Florida.
Leading up to the Super Bowl, the most prominent Texan to wager in Louisiana was Houston furniture salesman Jim McIngvale, also known as Mattress Mack.
Using a Caesars Sportsbook Louisiana smartphone app, McIngvale placed two record-setting mobile bets after driving into Louisiana.
McIngvale bet on the Bengals to win the Super Bowl, costing him the combined $9.5 million that he wagered on the game.
In-Person Wagering Adds to Louisiana Betting Totals
Louisiana’s February sports betting total was boosted by another $27.3 million that people wagered at sportsbooks inside casinos.
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February’s on-site handle was down almost $22 million from January’s total. However, January had five weekends, compared to four in February.
Also, 12 NFL playoff games and the College Football Playoff National Championship took place during January. Major football games usually are the nation’s most heavily wagered sporting events.
March Madness Should Keep Betting Totals High
The betting totals in Louisiana are expected to remain strong throughout March, especially with the LSU men’s and women’s basketball teams competing in NCAA basketball March Madness tournaments.
The men’s team begins play Friday at the Fiserv Forum in Milwaukee against Iowa State. The Tigers head into the game with an interim head coach, Kevin Nickelberry. He replaces former coach Will Wade, who recently was fired over NCAA recruiting allegations.
The women’s team, under first-year coach Kim Mulkey, opens at home on Saturday in LSU’s Pete Maravich Center against Jackson State.
Before returning to her home state to lead LSU this season, Mulkey, a Hall of Fame coach, won three national championships in 21 seasons at Baylor.
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