A bill that would allow betting on sporting events at sportsbook locations and through mobile apps, has been passed by the state House of Representatives and will now advance to the Louisiana Senate. A vote before the full Senate floor is set to happen later this month.
Another key step forward
Back in November 2020, sports betting was approved in Louisiana following a parish-by-parish referendum in 2020 that saw 55 of the state’s 64 parishes voted to legalise LA sports betting. It is up to the state legislature to set the ground rules, including the taxes.
In April this year, Louisiana Legislation resumed talks on the topic and started discussing several bills.
Most recently, the House of Representatives passed Rep. John Stefanski‘s taxation bill HB 697, which authorise the Louisiana Lottery to conduct sports wagering and levies a tax on sports gaming wagering. It now moves to the Senate, where Senate President Patrick Cortez is waiting on it to begin to push his regulatory bill, SB 202.
Overall, the state has never been so close to legalising sports wagering and it’s up to the legislature to:
– Pass the HB 697 that will authorise the lottery to administer sports betting, and to set up a tax structure on the revenue from wagering.
– Set up a licensing structure for operators, who will then apply to offer online and retail betting through the Louisiana Gaming Control Board (LGCB) as outlined in bill SB 202.
– Authorise the LGCB and the state police’s Gaming Division to oversee and enforce betting law (SB 142).
Details to know
Under House Bill 697, retail bets at land-based casinos would be taxed at 10%, while online bets would face a higher tax rate of 18%. The bill also establishes an avenue for bars and restaurants to offer sports betting through the Louisiana Lottery.
The regulatory bill (SB 202) would allow the state’s riverboat casinos, horse tracks and lone land-based casino in New Orleans to open retail sportsbooks, including 20 sports betting licenses. Each of the licenses can have up to two mobile licenses. With the lottery license, there could be up to 41 skins in the state.