Do you need a Louisiana online sports betting guide? In places like New Orleans, Bossier City, and Lake Charles, it is now legal to place bets on sporting events. The move to approve sports betting in Louisiana was a big one for everyone in the state.
Perhaps you have been watching from the sidelines and are now ready to jump in. Before you get started, check out our Louisiana sports betting guide to see how you can get off on the right foot.
Legal Overview of Online Sports Betting in Louisiana
Louisiana moved to legalize sports betting in 2020. After legalizing sports betting, the Louisiana Gaming Control Board officially allowed retail sportsbooks and sports betting kiosks to begin operating in October 2021. Online sportsbooks followed in January 2022.
In order to be part of the Louisiana sports betting handle, an operator must obtain a sports betting license from the Louisiana Gaming Control Board. Just as importantly, the Louisiana Gaming Control Board takes sports betting revenue and adds it to the overall revenue of the state.
Getting Started with Online Sports Betting in Louisiana
The Louisiana Gaming Control Board has allowed eight online sportsbooks to operate in Louisiana. Signing up for a new sportsbook account is easier than it looks, too.
Bonus bets are one of the best advantages for bettors. Use them wisely and you can bolster your bankroll without having to risk very much of your own money to get started.
Understanding Betting Odds
A key thing to learn before you begin sports betting in Louisiana is understanding the betting odds. For instance, when you look at betting markets like the moneyline, point spread, etc., you will notice the odds. American odds have a +/- symbol but foreign markets may use fractional or decimal odds.
Let’s stick with American odds for now. Here’s a game you might come across: New Orleans Pelicans (-180) vs. San Antonio Spurs (+210). The – tells us that the Pelicans are favorites and the Spurs are the underdogs. The higher the number on either side, the more likely or unlikely that outcome is.
Knowing those odds also helps us to determine a payout. If you were to bet $100 on the Spurs to win outright, a successful pick would net $310 ($200 for the win + the original stake). Meanwhile, you would need to bet $180 to win that same $100 by wagering on the Pelicans. There are betting calculators that can help simplify determining payouts.
Types of Sports Bets
Now that Louisiana has made sports betting legal, it is time to know about the various bet types. Though things can get more complicated, we are going to stick with the simplest and most common bets you will find at the average sportsbook legal in Louisiana.
Moneyline Bets
The simplest bet there is. With a moneyline bet, you are wagering on who will win the game. For those just starting out, moneyline bets are the safest way to go. There is little confusion about what you’re wagering on.
The main issue with moneyline bets is that odds can make it worth ignoring. For instance, a heavy favorite may have something like -260 odds, which means you’d have to risk quite a lot to get a marginal profit.
Point Spread Bets
The spread is the great odds equalizer. In the point spread, the sportsbook designates by how many points a team must win or lose by. For example, let’s say the New Orleans Saints are -4.5 against the Carolina Panthers.
In order to cover the bet, the Saints would need to win by 5 points or more. If they can’t, or the Panthers win outright, then the bet loses. Point spread bets are typically -110, putting them at virtually 50/50 odds.
Over/Under Bets (Totals)
Another way to go is by looking at the total amount of points that will be scored in the game. For instance, in the aforementioned Saints vs. Panthers game, the over/under may be set at 38.5 points.
Bettors would then place wagers on whether the total for the game will be more (over) or less (under) than the total listed. Like point spreads, over/under bets are generally even money or -110 for each outcome.
Parlays and Teasers
Many sports bettors like to combine multiple bets into a single ticket to create a parlay. The more picks or “legs” that are added to the ticket, the higher the odds are of hitting. Parlays can lead to bigger wins but are much tougher to hit. The biggest reason is that each leg must be successful in order for the parlay to cash.
A slight variation of the parlay is the teaser. Teasers are the same, but the player can alter the point spread of a game. The odds will change to reflect the difference, but a teaser generally makes it easier for the player to make a successful parlay pick.
Prop Bets and Futures
For virtually every game in any sport, prop bets are common. Prop bets regard any singular action in the game from either team or any player. For instance, player prop bets revolve around whether a player will achieve a specific result like points, goals, assists, hits, etc.
A futures bet, meanwhile, is about predicting what will happen over the course of a season. Bettors can wager on whether a team will make the playoffs, make the championship game, or win the title. Futures bets can also be placed on individual player outcomes and even trophy wins.
Jayden Daniels, LSU Tigers Football vs Florida Gators, Tiger Stadium, Baton Rouge, Louisiana, NCAA College Team
Top Sports Betting Tips for Beginners
Before checking out the best Louisiana sportsbooks, a few helpful tips can be quite helpful. It is a good idea to keep up with Louisiana sports betting news and to look for mobile betting trends as well. Here are some of the key tips.
Start with Simple Bets
Keep things simple. Though it can be fun to put together complex parlays, they rarely win (though bonus bets are more ideal in that situation). When you play at a sportsbook in Louisiana, go with simple bets like moneyline, totals, or spreads.
By keeping things as simple as possible, you improve the odds of getting it right. There is no guarantee that you’ll hit but it will at least give you a better shot. If you want to get more complex, bonus bets are more ideal because there is a greater shot at a large payout without the risk involved.
Manage Your Bankroll Wisely
The last thing you want to do is to lose your bankroll. The best Louisiana sports betting pros have success at online sportsbooks because they know how to handle their money. More importantly, they take advantage of bonus bets to take bigger risks that offer bigger payouts.
Put a cap on your wagers based on the total in your bankroll. Online gambling is about mitigating risk, after all. By wagering no more than 2% of your total bankroll, you ensure that you can make it through cold streaks without having to make another deposit before you should.
Utilizing Betting Systems
It is always a great idea to approach legal sports betting with a plan in mind. For instance, start by taking advantage of bonus bets. They are part of your sign-up offer and offer the ability to garner a win on longer odds without having to suffer a true loss.
Check out the various sports betting systems that are commonly used these days. Find one that you feel most comfortable with and deploy it. Most importantly, stick with it. Being consistent is important for achieving success in online sports betting.
Line Shopping and Arbitrage
Finally, give yourself the most competitive odds possible. Each sportsbook offers its own odds for every game. They may be quite close and seems like the differences are negligible. But if you shop odds, you can find enough of a difference to add up in the long run.
Arbitrage is another strategy. This involves betting on both outcomes to ensure a win one way or another. Though it sounds like a great strategy, the profit margins are typically quite small. If you are fine with incremental wins over time, this is a perfectly suitable sports betting strategy.
Managing Your Bankroll
Perhaps the best Louisiana sports betting tip you will receive has to do with bankroll management. Whether playing at a retail sportsbook or one of the eight online sportsbooks in the state, you need to know how to properly manage your money.
Setting a Budget
Before you start checking out Louisiana betting sites, you need to know what you can afford to spend. It is important that you never spend more than you can afford at legal sports gambling sites. Even with tons of information, the odds are usually going to be against you.
By going into the Louisiana sports betting market with a set budget in mind, you can feel comfortable that you won’t lose more than you can afford. Betting at sportsbooks in Louisiana should be done with responsibility and limits in mind.
Using a Staking Plan
While it is good to approach sports betting, especially Louisiana mobile sports betting, with a budget in mind, that is just the start. Before placing your first bet, you need to set staking limits for each wager.
A good rule of thumb is 1-3% of your total bankroll. By doing this, you can avoid going belly up at online betting sites and having to replenish your online sports betting account frequently. Best of all, it will help you survive the inevitable cold streaks that come with legalized sports betting.
Avoiding Chasing Losses
A common mistake that sports bettors make is to not know when to stop. Some nights, you just aren’t going to win at Louisiana sports betting sites. There is nothing to be done, everyone has cold streaks from time to time.
Read any Louisiana sports betting FAQ and one of the most common tips you’ll find is to not chase losses. The old saying suggests to live to fight another day and that is the best strategy with online gambling. Your luck could look a lot different in just a day’s time.
Keeping Track of Your Bets
Finally, the last thing to do when managing your bankroll at Louisiana sports betting sites is to keep track of all your bets. While luck is certainly a part of betting on professional and college sports, you can also unlock helpful trends within your own betting.
We all have tendencies when it comes to online gambling. Whether it be at online poker or online sportsbooks, it is possible to analyze past bets to find which are most successful, which fail more often, and where to put a better focus.
Research and Analysis for Successful Betting
Though there is no guarantee when it comes to sports wagering at Louisiana sportsbooks, data is your friend. The more information you have, the better chance you have at winning on professional and college sports betting. Here are a few simple tips that can help when gathering data.
Analyzing Team and Player Statistics
Should you be more familiar with local Louisiana sports teams, that can be a good thing. Analyze local sports teams like the New Orleans Saints and New Orleans Pelicans. Look at player stats, and team performance, and try to find any trends that may appear.
Online sports betting is an imperfect thing but having more information puts you in the best situation possible. The same theory works for both professional and college sports. Sports bettors can narrow the edge of Louisiana sportsbooks by knowing more about the teams involved.
Understanding Betting Trends
Just like there are trends in player and team performance, there are also trends within the sports betting industry. For instance, you may look at recent team performance and see that a team has been losing quite a bit.
Upon further inspection, you find that the team is losing but doing so closely. Taking them to cover the spread can wind up being a great sports gambling strategy. Sports betting in Louisiana can turn in your favor if you can find trends and start to see patterns emerge in winning bets.
Utilizing Expert Picks and Predictions
While it is important to have more information, Louisiana sports betting continues to present a challenge. Such is life in sports gambling. Sometimes, a little expert help can go a long way when it comes to online sports betting.
Thankfully, there are an array of online betting experts and handicappers out there to follow. They are considered sharp bettors and tend to do better with their online betting than the rest of the public. Tailing the experts and focusing on experts in sports betting in Louisiana can help you to make better picks.
Watching Games and Reading News
While there is a lot of information to be gleaned from looking at statistics and analyzing trends, there is no better way to improve your online sports betting than by watching the teams involved. You can see things in a team’s play by getting to watch them in action.
For local teams like the New Orleans Pelicans, New Orleans Saints, or the vast array of college sports teams, there is nothing quite like seeing them live. Mobile sports betting is a good idea in this case because you can place wagers as the action unfolds and take advantage of odds boosts and competitive odds.
Legal and Responsible Betting Considerations
The goal of our Louisiana online sports betting guide is to ensure that everyone is playing safely and responsibly. When sports wagering gets to be irresponsible, it can lead to not only a loss of money but serious damage to one’s personal life.
If you have a gambling problem, there are tools to assist at online sportsbooks. Compulsive gambling is quite serious which is why it is crucial to set limits and know about self-exclusionary tools. Online betting should be done with a budget in mind and only with what you can afford to lose.
Frequently Asked Questions (FAQs)
Is online sports betting legal in Louisiana?
As of October 2021, Sports betting has been legal in Louisiana. Legal online sports betting did not start until after retail sportsbooks were introduced to the state. Now, it is legal for sports bettors to place a legal sports bet at both retail sportsbooks and online sportsbooks alike.
What types of bets can I place online?
The fun thing about Louisiana sports betting sites is that you can wager on virtually anything. It is possible to place prop bets, moneyline wagers, parlays, and more on both professional and college teams.
How do I choose a reputable sportsbook?
Choosing a reputable online sportsbook is easier than it looks. The rules actually apply to retail sportsbooks, too. You want to start with a reputable name like ClutchBuzz sportsbook.
What should I do if I encounter issues with a bet?
If you encounter an issue while betting at a Louisiana online sportsbook like ClutchBuzz the best thing to do is to contact customer service. They should be able to resolve any issue with your sports bets.
How can I ensure responsible betting?
The best way to partake in the Louisiana sports betting scene is to do so responsibly. Even if you don’t have a gambling problem, it is good to set limits and know about self-exclusionary tools. Before you place wagers on Louisiana sports, be sure to check those tools out and get familiar with them.
