- HB 697 has passed in both the Louisiana House and Senate.
- Regulatory bill SB 247 and tax bill HB 697 have no successfully passed.
- SB 142 is the last bill that needs to pass.
BATON ROUGE, La. – Sports betting fans in Louisiana are now one step closer to their own regulated market after the Senate passes the tax bill.
This is the second successful bill passing in Louisiana this week as Wednesday saw the passing of the regulatory bill.
Sports betting in Louisiana is not just awaiting the successful passing of one final bill. This could be the year the market officially launches.
Louisiana Sports Betting
Louisiana sports betting tax bill HB 697 and regulatory bill SB 247 have now both passed in their respective chambers. Louisiana legislators have not taken a vote on SB 142 the appropriations bill as of yet.
SB 247 passed with a vote of 31-6 and HB 697 passed to a 32-4 vote in the Senate. Both bills now set the framework for how sports betting in Louisiana will be regulated, as well as how the taxes will be divided.
The tax bill will see 10% of betting revenue taken on retail sportsbooks and 15% taken on online sportsbooks. Those applying for sports betting licenses will pay a $250,00 application fee and $500,000 for a five-year license If granted. Platform provider permits will be $100,000 for the initial application and $250,000 for the five-year license.
Service provider permits will be $10,000 and then $12,500 for the five-year license. And finally, the distributor permit will be $5,000 for the application and $2,500 for the five-year license. Legal sports betting in Louisiana will likely launch in time for the NFL season. This is the goal as well for the DFS market.
Sports betting will only be accessible in the 55 parishes that voted in favor and mobile sportsbooks will use geofencing technology to ensure players are in the designated parishes.
Sports betting in Louisiana is now closer than its ever been to officially launching.
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News tags: Baton Rouge | HB 697 | John Stefanski | Louisiana | New Orleans | Patrick Page Cortez | Regulatory | SB 142 | SB 247 | sports betting
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.
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