Fanatics Sportsbook Expands to Louisiana

Baton Rouge, LA — Fanatics Betting & Gaming continues its rapid expansion across the U.S., marking a significant milestone by launching its Fanatics Sportsbook in Louisiana, the company’s 22nd state. This latest move positions Fanatics to potentially capitalize on Louisiana’s growing gambling market, particularly as the state explores the possibility of legalizing online casinos.

 

Fanatics’ Aggressive Growth Strategy

Fanatics' expansion into Louisiana comes on the heels of the company’s $225 million acquisition of PointsBet in April, underscoring its commitment to broadening its footprint in the competitive U.S. sports betting landscape. With Louisiana now part of its portfolio, Fanatics covers 95% of the U.S. online sports betting market, a remarkable feat achieved in just a few years.

The timing of Fanatics' entry into Louisiana is strategic, as the state’s sports betting market is experiencing significant growth. In the first half of 2024, Louisiana saw a 37% increase in betting handle, with total wagers exceeding $3 billion. The state collected over $32.9 million in revenue from sportsbooks during the first seven months of 2024, a substantial jump from $20.3 million during the same period last year. This surge in sports betting activity is expected to continue, especially as the football season kicks off.

Louisiana’s thriving sports betting market is part of a broader trend in the state’s gambling industry, which could soon include online casinos. In October, the Louisiana Senate will begin studying the feasibility of legalizing online casinos. The study will assess the potential benefits, risks, and best practices for regulating iGaming, with findings expected by March 2025.

Sen. Kirk Talbot, who initiated the resolution for the study, emphasized the importance of examining the issue closely. “iGaming is a big issue, certainly the next thing in gambling. I thought it would be prudent for us to look at it. It’s going to be coming up, so let’s study it to have an idea of what it entails,” Talbot told PlayUSA.

Should Louisiana move forward with online casino legislation, Fanatics is well-positioned to enter the market. The company already operates in several top iGaming states, including New Jersey, West Virginia, Michigan, and Pennsylvania. This existing experience could give Fanatics a competitive edge if and when Louisiana opens its doors to online casinos.

 

Fanatics’ Partnership with Boomtown Casino

Fanatics’ Louisiana launch is bolstered by its partnership with Boomtown Casino & Hotel, providing residents and visitors in the state with access to the Fanatics Sportsbook app on both iOS and Android platforms. Through this partnership, Fanatics offers customers perks like up to 10% back on bets, live sports streaming, and rewards through its FanCash program, which can be redeemed for items such as jerseys and bonus bets.

Despite the promising start, Fanatics faces stiff competition in Louisiana. The state’s sports betting market is already home to established operators like DraftKings, FanDuel, and BetMGM. As the tenth sportsbook to enter the state, Fanatics will need to differentiate itself to attract and retain customers in this crowded market.

 

 

Conclusions

As Fanatics Betting & Gaming continues to expand, its entry into Louisiana marks another step toward solidifying its presence across the U.S. With the potential for online casino legislation on the horizon, the company is strategically positioned to take advantage of new opportunities in the Pelican State’s evolving gambling landscape.