Bet365 Louisiana Launch is Go, Continuing US Expansion
This week, British online gambling operator Bet365 has continued its U.S. expansion, launching in the Louisiana sports betting market.
It first launched in the U.S. for New Jersey sports betting in 2019, but it took until late 2022 for it to launch in its second state, Colorado.
With this launch, Bet365 has now established its presence in seven U.S. states, joining its operations in Colorado, Iowa, Kentucky, New Jersey, Ohio, and Virginia.
The entry of Bet365 in Louisiana makes it the state’s seventh online sportsbook. The total has returned to seven after WynnBET recently exited the market.
“Celebrated for its passionate culture and festive spirit, we are thrilled to bring bet365 to Louisiana,” a Bet365 spokesperson said.
“Now eligible customers from Shreveport to the Big Easy can enjoy our renowned products, like amazing bet boosts, the fastest in-game experience, and unique same game parlays.”
A Unique Betting Landscape
Interestingly, Bet365 will not be available all across Louisiana. The state is unique among U.S sports betting because of the structure of its market.
Louisiana’s approach to online wagering involved a parish-by-parish vote, resulting in Bet365 being available in 55 of the state’s 64 parishes.
There is no word yet on whether or not Bet365 will join the list of operators with Louisiana retail sportsbooks. But it is certainly possible.
The state’s sports betting market has been on the rise, with record-breaking figures reported in recent months.
In October, the state saw its highest sports betting handle and revenue, indicating a robust appetite for sports wagering among its residents.
Bettors in Louisiana wagered $308.6 million during the month, with $276.2 million of that handle attributed to online betting.
The revenue from that handle reached a record $43.3 million, including a notable $40.1 million from online betting. This thriving market presents a lucrative opportunity for Bet365.
Bet365’s Growing Footprint
Having started with a slow rollout, the European operator is now gaining momentum, expanding its reach across multiple states. This week, it became the very first operator to signal an intent to launch North Carolina sports betting services when the market opens next year.
Bet365 announced it has signed a deal with the NBA’s Charlotte Hornets, a multi-year agreement covering marketing and potential sports betting market access.
The exact traction of Bet365 in the U.S. market is hard to quantify, as many of the states it operates in do not publicly break down revenues per sportsbook.
However, the operator has been among the highest spenders on promotions when that data has been made available by regulators.
Now that Bet365 is open for Louisiana sports betting, new customers can get up to $365 in promotions for just a $1 initial bet. It has rolled out the exact same themed promotion each time it has launched in a new U.S. market.
The Stoke, England-based gambling giant is family owned, and that family is one of the UK’s biggest taxpayers. In 2022, Bet365 owners Denise Coates and family paid out $460 million to the tax authority, Her Majesty’s Revenue and Customs.