Fanatics Betting and Gaming has launched its sportsbook product in Louisiana. The Fanatics Sportsbook is now available in twenty-two states and approximately 95% of the addressable online sports bettor market in the US, the company noted.
The company went live through a partnership with Boomtown Casino and Hotel, with its sportsbook now available for download on iOS and Android. Fanatics Sportsbook has joined bet365, BetMGM, BetRivers, Betway, Caesars, ClutchBet, DraftKings, ESPN Bet and FanDuel in the Pelican State.
This marks the operator’s latest step in the U.S. since Fanatics finalized the $225 million acquisition of PointsBet’s U.S. assets in April. The company has also recently launched both its sportsbook and its online casino offerings in New Jersey, one of the few states that offer both online betting and online casino.
Louisiana launched its online sports betting market in January 2022. As of June 2024, it is growing at a rate of around 37% compared to 2023 and has taken more than $3 billion in bets year-to-date.
The Louisiana Gaming Control Board reported that the state took a $195.8 million handle in June, yielding net proceeds of $24.8 million. Louisiana’s betting tax rate is 15%. However, the state law allows losses incurred by operators to offset future net proceeds.