In A Flash
Louisiana sports betting revenue spikes in first full month of football
Louisiana collected nearly $4 million in fees from sports wagering in September (Photo by Kevin C. Cox/Getty Images)
The first full month of college football saw a spike in sports wagering revenue for Louisiana, bringing in almost $4 million in fees for the state.
The accounting of September’s betting revenue came at Thursday’s meeting of the state Gaming Control Board, which regulates gambling in Louisiana.
“It’s very apparent that football season is here,” Gaming Control Board chairman Ronnie Johns said.
September’s take brings the state up to over $22 million in year to date tax revenue from sports gambling, which Louisiana legalized in January. Johns expects the state to exceed initial projections of $30 million in annual revenue.
The state’s split for sports gambling tax revenue calls for 25% to go toward early childhood education, 10% to local governments and the rest goes to gambling addiction programs and other projects.
The Gaming Control Board also unanimously approved a five-year permit for WynnBet, a sports wagering operation. The company currently operates sports books in nine states. The company has been operating in Louisiana on a temporary certificate of authority since February that was slated to expire in early November.
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