Louisiana now has “dueling” daily fantasy sports options.
Late last week, FanDuel kicked off its DFS service in the Pelican State with a $10 sign-up bonus, making it Louisiana’s second fantasy sports provider.
This happened the day after a very congenial Louisiana Gaming Control Board meeting, during which members agreed that approval presented minimal — even zero — financial risk to the state. As such, the board unanimously approved FanDuel’s application for a Fantasy Sports Contest Operator license. The license stays active for a term of three years.
Speaking at the LGCB meeting were Louisiana Assistant Attorney General Alonna Murray; Tammy Hop, auditor with the Louisiana State Police Gaming Audit Division; and criminal investigator Rodney Perkins of the Gaming Enforcement Division. Attorney Janet Boles and FanDuel Vice President Stacey Stern spoke on behalf of FanDuel.
Regarding the day’s ultimate approval of a license for FanDuel, LGCB Chair Ronnie Johns commented:
“It expands options for fantasy sports fans, which I think is important moving forward.”
Louisiana DFS industry doubles in size
FanDuel has joined DraftKings in supplying free and paid daily fantasy sports contests in 47 parishes that voted to allow it in the November 2018 election.
Even with that victorious vote, DFS remained a fantasy for Louisiana enthusiasts for three years until this July, when DraftKings received its license.
Founded in 2009, FanDuel stands as the flagship of Flutter Entertainment. After nearly a decade of offering strictly DFS contests, FanDuel expanded into legal sports betting in 2018 as well as online casino gaming. In fact, FanDuel Louisiana Sportsbook is likely targeting a launch later this year.
FanDuel expects to generate $1.5 million in revenue in its first year in Louisiana, Hop said. She pointed out that because FanDuel would have no “brick-and-mortar facility” expense in the state at this time, approval would present only “minimal risk” to Louisiana.
Representing FanDuel, Boles pointed out that DraftKings shared the same concerns regarding cash flow when it applied to the state.
“We look forward to making a lot of money and making money for the state of Louisiana,” Boles said.
Louisiana makes 47 states on FanDuel’s roster, including newly approved Arizona, along with Washington, DC. FanDuel also offers free-to-play contests in 50 states plus DC.
Louisiana sports betting launch updates
With fantasy sports already live in the state, the waiting goes on for the start of in-person sports betting, which some outlets claim could be Nov. 1.
Paragon Casino Resort has already opened its retail sportsbook, as tribal casinos don’t fall under the jurisdiction of state regulators.
Toward the close of the Oct. 21 LGCB meeting, Johns addressed the intense interest in the matter with a statement and a joke:
“I’m not gonna give you a definitive date… but it’s gonna be soon. Maybe before LSU gets a new head coach.”
He also dismissed “rumors” going around that mobile betting apps in Louisiana might start as soon as the weekend.
So, as it has been for the past few weeks, the wait goes on for the launch of regulated sports betting in the Pelican State.