Louisiana residents will see the launch of a new sportsbook in 2023. Betway aims to bring its mobile betting app to the Pelican State in Q1 2023. This was revealed during the Q3 earnings call where the company discussed future plans. Betway Louisiana would mark the ninth mobile sportsbook in Louisiana.
Betway Meets Louisiana
The popular sportsbook is currently live in seven markets and Louisiana would mark the eighth. Betway has market access to 12 more markets that it has yet to launch in. The thriving Louisiana market is tempting for Betway. Parent company Super Group expressed the need to expand in markets with long-term growth potential.
Louisiana is coming off of a record setting betting handle month in October. Mobile sportsbooks saw $219,040,606 during that time. Betway is aiming to join the bubbling market and claim some of the market share held by top mobile apps.
Currently, the likes of Barstool, BetRivers, BetMGMG, Caesars Sportsbook, DraftKings, and FanDuel offer odds in Louisiana. While the competition will be stiff for Betway, the company is confident that it will carve out a decent market share for bettors.
Louisiana Continued Growth
The Pelican State is allowed up to 40 online betting operators per the law. It will be some time before Louisiana lawmakers issue all of the betting licenses available. Regulators have reaped the benefits of more than $1.8 billion in bets since going live. This allowed for close to $190 million in sports betting revenue.
The continued additions of sports books each year should see a steady growth in overall activity and revenue for the Pelican State consistently. Online sportsbooks dominate with over 90% of the betting handle during the year. With the Betway mobile app incoming, even more, betting options for Louisiana residents will be available.
Time will tell if Betway’s launch will shake things up in the Pelican State. Louisiana residents have indeed embraced sports betting, but Betway has not dominated in any of the markets it has launched in. The company is looking at Louisiana as a perfect start to shift this trend.