Louisiana approves first licence for fantasy sports betting

DraftKings will offer fantasy sports in Louisiana.
DraftKings will offer fantasy sports in Louisiana.

The Louisiana gambling regulator has greenlighted a permit for DraftKings to launch its fantasy sports betting offer in the state.

US.- The Louisiana Gaming Control Board has approved the state’s first license for fantasy sports betting.

This approval allows DraftKings to launch its operations in the 47 parishes where voters authorised gaming nearly three years ago.

DraftKings will offer daily fantasy sports contests in which people create imaginary teams of real-life sports players and score points based on how those players perform in actual games.

Boston-based DraftKings is one of the largest fantasy sports providers and Louisiana will become the 44th state in which it operates fantasy sports betting. It has not yet announced a date for launch.

Matt Kalish, co-founder and president of DraftKings North America, said: “As DraftKings continues our nationwide expansion, we welcome Louisiana to the DraftKings family, an area rich with culture, heritage and die-hard fanbases in both professional and college sports”.

Fantasy sports betting was legalised in Louisiana in November 2018. DraftKings submitted its licensing request in February, shortly after the gambling board opened the application period. The Louisiana State Police conducted a background investigation and financial review of the company to ensure it complied with state regulations.

DraftKings estimated it would bring in $15.5m in net revenue for the state’s current budget year, generating nearly $1.3m in tax dollars for the state.

Participants in Louisiana’s fantasy sports competitions will have to be at least 21 years old. The games only will be permitted in parishes where voters authorised it, but anybody will be able to log into the sites if they travel to those parishes.

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