Mobile and retail sports betting have quickly become very lucrative since legalization two years ago. Sports betters have posted billions of dollars in bets since wagering went live.
“I have no doubt that by the end of January the total amount wagered will exceed five billion dollars.”
That according to Ronnie Johns, President of the Louisiana Gaming Commission. And, there doesn't seem to be any slowing down in growth anytime soon, which means more revenue in state and local economies.
“Everybody asks me how much money does it generate for the state. We estimated about sixty million dollars in tax revenue and it should come in at about eighty million. So, it exceeded our expectations.
Johns also says that most of the economic impact comes from one product in particular.
“Mobile betting is consistently posting eighty to eighty-five percent of total betting every month.”
Not only are the numbers something to be proud of, but the rollout of the statewide platform went without a hitch as well and such a smooth opening is not always a given.
“We have been very proud of how it was rolled out with virtually no major problems.”
