WynnBET is latest Louisiana online sports betting sportsbook to launch
A seventh live sportsbook has now joined the ranks of Louisiana online sports betting.
WynnBET is live and taking bets in Louisiana, a company representative confirmed today. An official announcement will be made by the company on Thursday, Feb. 10.
WynnBET is the seventh live sportsbook in the state, joining BetMGM, Caesars Sportsbook, DraftKings, FanDuel, Rush Street Interactive, and Barstool Sportsbook. WynnBET gained Louisiana market access through a partnership with Horseshoe Casino in Bossier City, a Caesars Entertainment owned property. It announced the partnership in September 2021.
Louisiana launched online sports betting on Friday, Jan. 28. Despite a few delays, the state managed to launch online sports betting before the drop deadline of Super Bowl LVI on Sunday, Feb. 13. Louisiana Gaming Control Board Chairman Ronnie Johns said throughout the process it was important for the state to be up and running before the Super Bowl, the biggest sports betting day of the year.
Louisiana online sports betting allows for 41 skins
Louisiana allow 20 sports betting licenses, one each for the the state’s 15 riverboat casinos, four racinos (horse tracks) and one land-based casino. Each license also includes two mobile licenses, which could mean a potential of 41 “skins” for Louisiana online sports betting. The one additional skin would be allotted to the Louisiana Lottery Corporation.
Each facility that has applied for a sports betting license has also been required to construct a retail sportsbook to be eligible.
Facilities with Class-A onsite consumption liquor licenses can receive a mobile wagering device, called a kiosk, to allow patrons to participate in online sports betting while in their facility. This would be run under the purveyance of the Louisiana Lottery Corporation and revenue would be taxed at 10%.
A sports betting ban on in-state collegiate programs was not included in the bill.
Louisiana sports betting framework
Louisiana law makers approved the state’s two sports betting bills in June and they were quickly signed into law by Gov. John Bel Edwards. The bills set a 10% tax rate on retail sports betting and a 15% tax rate on online sports betting.
Sports betting tax revenue will be dispersed as such:
- 60% to the general fund.
- 25% to early education.
- 12% to the parishes.
- 2% to programs for gambling addiction.
- 1% to a sports wagering purse fund for horse racing.
Where is Louisiana online sports betting legal?
Sports betting is legal in 55 of 64 Louisiana parishes that approved the measure in the November 2020 general election. In-person and online sports betting is not permitted for residents living in the following parishes:
- West Carroll