Fanatics Sportsbook is now live in Louisiana as of Aug. 15.
The Pelican State has become the sportsbook’s 22nd U.S. state of operation through a partnership with the Boomtown Casino and Hotel, taking Louisiana to 10 online sportsbooks.
With that, Fanatics says its sports betting offering is now available to approximately 95% of the addressable American online sports bettor market.
It’s the operator’s latest step in the U.S. market since it completed its $225 million acquisition of PointsBet’s U.S. business in April. In Louisiana, like in its other markets, Fanatics will look to solidify a place in the chasing pack of sportsbooks behind market leaders FanDuel and DraftKings.
It recently launched both its sportsbook and its online casino offerings in New Jersey, one of the select handful of states that offer both online betting and online casino. It also took sports betting live in Wyoming in May.
Louisiana betting market hits $3 billion in 2024
Louisiana’s online sports betting market launched in January 2022. As of June 2024, it is growing at a rate of around 37% so far this year compared to 2023 and has taken more than $3 billion in bets year-to-date. In June, the most recent month for which data from the Louisiana Gaming Control Board is available, the state took a $195.8 million handle in June, yielding net proceeds of $24.8 million.
Louisiana’s betting tax rate is 15%, although state law allows losses incurred by operators to offset future net proceeds.
In Louisiana, Fanatics joins bet365, BetMGM, BetRivers, Betway, Caesars, ClutchBet and ESPN Bet in looking to compete for market share behind FanDuel and DraftKings.
