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Since the start of this year, Fanatics Betting & Gaming has been taking big steps to expand across the US and has launched the Fanatics Sportsbook in Louisiana.
PlayUSA considers Louisiana poised for online casino expansion and this puts Fanatics Casino in a good position.
Louisiana marks Fanatics Sportsbook’s 22nd state. And in April the company completed the purchase of PointsBet for $225 million. Both endeavors show the company’s strong will to expand its services.
Key takeaways
- Fanatics is rapidly expanding across the US, with Louisiana as its 22nd state.
- Sports betting in Louisiana is experiencing significant growth, with a 37% increase in handle during the first six months of 2024.
- The Louisiana Senate is preparing to study the feasibility of legalizing online casinos, showing an interest in the future expansion of the state’s gambling market.
Sports betting fuels LA revenue as state considers online casinos
Sports betting in Louisiana is booming as a year-over-year report reveals total wagers exceeding $3 billion and a 37% increase in handle for the first six months of 2024. The market’s hot streak should carry into the football season.
In total, the state has raked in over $32.9 million from sportsbooks in the first seven months of 2024, outpacing last year’s total by $12.6 million. That’s a huge increase from the $20.3 million during the same period in 2023.
In June, 19 Louisiana gaming facilities garnered $200 million in revenue, about 3% down from May. However, the state missed out on millions in legal online casino revenue.
That said, Fanatics is ready to take off in the Louisiana market pending an expansion into other gambling options like online casinos.
In October, the Louisiana Senate will launch a study on the feasibility of legalizing online casinos. The study will focus on the potential benefits, risks, and industry best practices.
Sen. Kirk Talbot, who filed the resolution, told PlayUSA:
“iGaming is a big issue, certainly the next thing in gambling. I thought it would be prudent for us to look at it. It’s going to be coming up, so let’s study it to have an idea of what it entails.”
While the operator waits for legal Louisiana online casinos, Fanatics Casino is already rooted in top iGaming states:
- New Jersey
- West Virginia
- Michigan
- Pennsylvania
Fanatics teams with Louisiana’s Boomtown Casino & Hotel
With Louisiana, Fanatics will cover 95% of the US online sports betting market. And owing to their partnership with Boomtown Casino & Hotel, Pelican State residents and visitors can now download the app on iOS and Android and start betting.
According to the press release, Fanatics gamblers can earn up to 10% back on their bets, watch live sports, and enjoy exclusive perks like jerseys and bonus bets through the FanCash program.
The 10th sportsbook in the state, Fanatics’ competition is tough. The operator must compete for customers against top names like DraftKings, FanDuel and BetMGM.
