Louisiana sports betting wagers and tax revenues have revved up in parishes where it’s legal, with total wagers since November 2021 exceeding $2 billion and tax revenues surpassing $30 million, according to data from the Louisiana Gaming Control Board.
In November of 2022, mobile sports wagers in Louisiana stood at $233.7 million, while retail sports wagers were nearly $35 million, for a total of $268.6 million in wagers.
The Gaming Control Board did not respond to requests for comment about the pace of legal sports betting, but Chairman Ronnie Johns told The Center Square that such wagers continue to gain popularity with no resulting problems.
The American Gaming Association (AGA) also expressed optimism about the first-year rollout of sports betting in Louisiana, where such wagers are now legal in all but nine parishes.
“In the first year of mobile wagering, Louisianans have demonstrated clear demand for legal betting options that provide a safe, competitive alternative to the unregulated illegal market,” Cait DeBaun, the AGA’s vice president for strategic communications and responsibility, told the Louisiana Record in an email. “Importantly, the success of legal mobile wagering has generated millions of needed dollars for the state and participating parishes for general services, early childhood education and disability services.”
In Louisiana, mobile and online sports wagers are taxed at rate of 15%, while taxes on land-based wagers are 10%.
The 2021 legislation that outlines how tax funds generated from sports betting should be spent provides that one-quarter of the funds – but not more than $20 million – must go to the Louisiana Early Childhood Education Fund. The amount allocated to the Sports Wagering Local Allocation Fund is 10%, while the greater amount of either 2% or $500,000 will go to a Behavioral Health and Wellness Fund and another 2% (not to exceed $500,000) will go to the Disability Affairs Trust Fund.
Remaining funds will go to the state’s general fund, as well as horse racing-related purposes.
Mobile wagers have risen each month from July of this year through November, according to data from the Gaming Control Board.