Assessing the Louisiana Market | CAP

Assessing the Louisiana Market

Sports betting is growing significantly throughout the US, and one of the most recent states to open its doors to legal wagering is Louisiana.

But unlike some states where legal sports betting is statewide, in Louisiana it is on a Parish level which presents additional challenges for operators, suppliers, affiliates, and players.

As an affiliate, expanding into the Louisiana market can be tricky if you don’t understand these market quirks and what do need to do to overcome them.

This article will provide an overview of the state and how you can gain a license to provide affiliate services in what looks set to be a significant sports betting state.

Louisiana: An Overview

Louisiana launched mobile sports betting towards the end of January 2022, roughly three months after legal retail sports betting went live.

Of the state’s 64 parishes, 55 went in favour of legalising online sports betting when the decision was put to a vote in a referendum in November 2020.

If players live in a parish that doesn’t allow sports betting, that doesn’t mean they’re not allowed to wager at all. Instead, they’ll need to drive to one of those that do.

This means that all 4.65 million people living in the state can bet on sports – so long as they’re older than 21 years old and are located in a parish where it is legal to do so.

There are a total of 20 online sportsbook licenses available, with each license holder permitted to launch two skins – this means up to 40 online sportsbook brands in total.

Current brands live include:

BetMGMCaesarsDraftKingsFanDuelBet RiversBarstool

Sports betting in Louisiana looks set to be a big market in the long run, especially if the early numbers are anything to go by.

According to data from GeoComply, 3.6% of the state’s adult population wagered on sports in the first 36 hours the market was live compared with 3.3% in New York.

The Pelican State has no shortage of professional sports clubs, either. The two biggest are both based in New Orleans, with the Saints in the NFL and Pelicans in the NBA.

Louisiana has a strong culture with college sports, too, and it’s legal to bet on collegiate sports in the state.

Licensing in Louisiana

Like many other US states, you’ll need to obtain a license if you want to operate as an affiliate in Louisiana. To do this, you will need to sign up as a non-gaming supplier vendor with the state’s gambling regulator.

What Do Affiliates Need to Do to Gain a License for the Louisiana Market?

To successfully apply for a license in Louisiana, it is important to understand the process you will need to go through. First and foremost, you’ll need to pay a $250 fee to get the ball rolling.

When you apply, you will be required to share your financial statements for the past 10 years, along with proving to the Louisiana Gaming Control Board (LGCB) that your business is genuine and effective.

You’ll also have to show that your criminal record is not tainted. If you’re granted a license, you’ll have it for 10 years and need to pay $250 annually.

To find partners to help you grow in the Louisiana market, join Casino Affiliate Programs today.

Author: Sofia Barrett