LSU’s College World Series win drives up sports betting revenue for state

LSU’s first College World Series win since 2009 was a home run for Louisiana sports betting, according to the chair of the Louisiana Gaming Control Board.

Ronnie Johns credited the Tigers’ performance with an increase in gambling revenue for the state over the previous June.

“I think the win ratio was actually down, so I think a lot of people were betting on LSU to win and we’re grateful that they did,” Johns said at Thursday’s Gaming Control Board meeting. 

The state brought in $1.6 million in taxes from mobile sports betting and $132,000 from wagers at casinos last month, up from $1.4 million for mobile and $66,792 at casinos in June 2022.

Of the revenue, 25% goes toward early childhood education, 10% goes to local governments and the rest funds gambling addiction programs and other projects.

When Louisiana legalized sports gambling in 2022, the Legislature estimated it would bring in around $30 million annually to the state.

In the 2022-2023 fiscal year, the state has collected $38.7 million, up from $14 million the previous fiscal year, which included just eight months following the legalization of casino sportsbooks in November 2021. Legal mobile betting began in January 2022.

This story was first published by Louisiana Illuminator.