Sports betting has made its way to Louisiana, and many bettors in the state have already started getting in on the action. Whether you are new to sports betting or a seasoned veteran, understanding the options that are available is a big aspect of sports betting. In addition, understanding how odds work for each sport is just as important. With that in mind, let’s take a deeper dive into the sports betting market for Louisiana to see what is available and what to keep in mind when placing your wagers.
Where Can I Bet On Sports Online In Louisiana?
With sports betting legalized in a handful of other states, many regulated and licensed online sportsbooks have already launched in those areas. It is expected that many of the top sportsbooks in the country will soon become available in Louisiana. Expected sportsbooks include:
DraftKings already provides daily fantasy sports in the state. It has typically been one of the first sportsbooks launched in other states when approved. DraftKings offers one of the most generous opening bonuses in the industry. Offered is a free $50 bet with at least a $5 deposit, plus a 20% match bonus of up to $1,000. Right now before online betting goes live, the sportsbook is also giving out a $100 free bet for early registrants. DraftKings is currently live in the following states: AZ, CO, CT, IL, IN, IA, MI, NH, NJ, PA, TN, Va, WV, WY.
One of the more rapidly growing sportsbooks, BetMGM is already popular in states like New Jersey and Pennsylvania. It’s a great pick for new and experienced bettors, offering a risk-free bet of up to $1,000 and diverse betting markets for all bettors. BetMGM is currently live in the following states: AZ, CO, IN, IA, MI, NJ, NV, PA, TN, VA, WV, DC, WY
FanDuel is another popular mobile sportsbook and the primary competitor with DraftKings. It also features phenomenal market depth and variety, player-friendly betting odds, and an excellent user interface. FanDuel is currently offering a pre-launch promo of $100 free credit when you open a FanDuel account in Louisiana. The funds will be available beginning on launch day. FanDuel is currently live in the following states: AZ, CO, CT, IA, IL, IN, MI, NJ, PA, TN, VA, WV.
Sports Betting Odds Explained – Types Of Sports Bets
Sports betting odds and lines vary depending on what type of bet you choose. In addition, odds can sometimes vary across different sportsbooks, so it’s important to understand how to read them in order to find which bets are worth taking.
Also referred to as a straight bet, a moneyline bet is when you simply pick who you think will win the game. Regardless of how close the game is, if the team you pick wins, then you win money. Simple as that. Payouts/odds are a little higher when betting on an underdog, and those wagers are represented with a plus symbol. Conversely, payouts/odds are lower when betting on the favorite, and those bets are represented with a minus symbol.
Points Spread Bets
Things get a little more interesting with a points spread bet. In this case, sometimes just winning the game is not going to cut it. In sports like football and basketball, one team is usually favored over their opponent, and they are favored to win by a certain amount of points. For example, if the Saints are listed as favorites at -3.5, in order to win the bet, they must not only win the game but win by at least four points or more. On the other side, if the Saints are listed as underdogs at +3.5, then they must either win the game OR lose by three points or less.
These types of bets refer to the total amount of points scored in the game. You can place a bet on the number of points to either go over or stay under the listed total. For example, consider a game in which LSU is playing against Florida and the total listed is 52.5. If you bet on the over, you will need the two teams to combine for at least 53 points in the game to win your bet. If you bet on the under, then you would need the two teams to stay under 52 combined points to win. Many sportsbooks also offer totals for quarters and halves as well. The odds for both the over and under are typically right around -110, meaning that you would need to bet $110 to win $100.
Parlays are a fun way to potentially earn a bigger payout. In a parlay, bets include multiple picks on at least two different games. Parlays can be made on the moneyline, points spread, or game totals. For example, if you put together a two-team moneyline parlay involving the Saints and the Cowboys, you would need both teams to win their respective games in order to receive a payout.
Some sportsbooks like FanDuel and DraftKings now offer same-game parlays. This is when you can put multiple picks from a single game into a parlay. These types of bets also allow you to enter player props into your parlay.
Player Prop Bets
Player props focus on a single player in a game. In NBA games, sportsbooks usually offer player prop bets relating to points, assists, and rebounds. For example, bettors can bet on Zion Williamson to score over or under his listed total of 21.5 points in a game. In the NFL, a common player prop is total passing yards for quarterbacks. These types of bets can vary between sportsbooks, so be sure to shop around on multiple platforms to make sure you are getting the best possible number.
A futures bet is different from placing a bet on a single game. A futures bet involves betting on a series or an award that will be decided in the future. In the NFL, futures bets can include a team’s chances to win their division, win their respective conference, or win the Super Bowl. DraftKings currently lists the New Orleans Saints at +800 to win the NFC South, +5000 to win the NFC, and +8000 to win the Super Bowl.
Live In-Game Betting
Live betting lets you bet while the game is taking place. Sportsbooks are constantly updating the odds for each game as it is unfolding. This means that you can place a bet in the middle of the first quarter of an NFL game, at halftime of an NBA game, or between innings in an MLB game. Depending on how the game is going, live betting allows you to select bets with certain odds that you may not normally consider placing.
How Louisiana Sports Betting Odds Work
Each sport presents a different approach to betting. The odds and markets can vary depending on which sports you are betting on, so understanding how they work is an important factor to keep in mind. Let’s take a look at how the odds work for popular sports leagues like the NFL, MLB, and NBA.
When it comes to moneyline and spread bets, payouts/odds are lower when betting on the favorite. The team that is favored will have a minus-sign listed before their odds. The number listed indicates how much you would have to bet in order to win $100. For example, if the Saints‘ moneyline price is -170, you would have to bet $170 to win $100.
Conversely, payouts/odds are a little higher when betting on an underdog. Those wagers are represented with a plus symbol. The plus-sign indicates how much you would win if you bet $100. In their Week 8 matchup against the Buccaneers, the Saints were the underdogs. Their moneyline price was +180 on FanDuel. Because the Saints won the game, this means that a $100 bet on the Saints moneyline would have won $180.
The Super Bowl is one of the most-bet events in sports. Sportsbooks can get creative during the Super Bowl, as there are wagers for just about everything you can imagine. In addition to regular moneyline, spread, and totals bets, you can bet on whether the coin toss will be heads or tails, what color the gatorade dumped on the winning coach will be, how long the national anthem will be, whether or not the halftime performer will be wearing a hat, as well as many other. There is truly something for everyone.
The moneyline price on a favored MLB team will be relatively the same as the NFL, with the favorite displaying a minus-sign. However, baseball spreads are a little different. Whereas NFL games can have spreads that can be up to 15 and sometimes 20+ points, the favored teams in MLB matchups are listed as -1.5 on the “run line.” Finding a team with a run line at -2.5 is fairly rare. If you back a team on the run line -1.5, this means they would have to win the game by multiple runs in order for your bet to win. Underdogs are listed at +1.5 on the run line, meaning they would have to either win the game outright or lose by a single run for that bet to win.
When it comes to the postseason, on top of each individual game, sportsbooks offer bets on the winner of each series, as well as the Wild Card games. The odds will be updated after each game, so you don’t necessarily have to place a wager before the series starts.
NBA spread bets are similar to NFL spread bets. One team is favored over the other by a specific number of points. If the Pelicans are listed as favorites at -5.5, in order to win the bet, they must not only win the game but win by at least six points or more. On the other side, if the Pelicans are listed as underdogs at +5.5, then they must either win the game OR lose by five points or less.
In terms of player props, sportsbooks usually offer prop bets relating to points, assists, and rebounds. For example, bettors can bet on Zion Williamson to score over or under his listed total of 21.5 points in a game.
When betting on the NBA playoffs, you will find a similar style to the MLB playoffs. You can bet on each individual game, as well as each series as a whole.
Sports Betting Odds Calculators
Depending on your location and which sportsbook you are using, the language and style in which the odds are presented could vary. Using an odds calculator can provide a bettor with an edge by translating odds into a language sports fans can understand.
Like many pastimes, sports betting comes with its own unique terminology and styles. For example, a two-team parlay in the United States is called a double in the United Kingdom.
Odds Calculators can be used to quickly and accurately convert odds from any popular betting format into all other commonly encountered formats. It will also calculate the implied probability of the event in question. These can be a helpful tool for bettors as they are selecting which wagers to place.
What Affects Sports Betting Odds Throughout A Season?
Just because a team is expected to be one of the top teams at the beginning of the season, doesn’t mean that they will be by the end of the season. Because of this, odds and lines are constantly being updated by the various sportsbooks throughout the country.
In any sport, a matchup between two teams early in the season could be very different from a matchup between the same two teams near the end of the season. Aspects such as matchup trends, injuries, trades, and suspensions are factors that sportsbooks consider when updating odds and lines throughout the course of a season. This process is not only applied to individual head-to-head matchups, but to the futures market as well.
For example, the New Orleans Saints are currently on a three-game losing streak. That means they are now seeing much higher odds in their futures market. In mid-October, the Saints were +400 to win the NFC South, +1400 to win the NFC, and +3000 to win the Super Bowl on DraftKings. Now, DraftKings currently lists the Saints at +800 odds to win the NFC South, +5000 to win the NFC, and +8000 to win the Super Bowl.
Louisiana Sports Betting Odds FAQs
The first launch for Louisiana sports betting occurred on Sept. 6 when Paragon Resort Casino and its partner Betfred began accepting sports wagers at its location in Marksville.
Caldwell, Catahoula, Franklin, Jackson, LaSalle, Sabine, Union, West Carroll, and Winn parishes opted to not legalize sports betting. When launched, bettors located in these parishes will simply have to drive to a parish that voted YES on sports betting to place a wager.
You have to be 21 years of age or older in order to participate in any gambling activity in Louisiana.
In some cases, yes. Some sportsbooks offer bettors the chance to bet on where a free agent will sign during the offseason, or what team a player will be traded to. Other popular off-the-field bets involve betting on events like the NFL and NBA Drafts. These markets can vary between sportsbooks, so consider looking at the various platforms to see what is available.
Yes. Some states, like New Jersey and Illinois, place heavy restrictions on collegiate sports wagering for games that either take place in-state or that involve in-state college teams. Louisiana will not be one of those states. Bettors in Louisiana will be able to bet on Louisiana college teams.
While approved, mobile sports betting through DraftKings and FanDuel is not yet allowed. Mobile operators including DraftKings and FanDuel are expected to launch in Louisiana in early January 2022.