Sports Betting In Louisiana Hits First Major Milestone To Being Put On The Ballot

• Louisiana sports betting bill LA SB 153 would allow voters to decide on a parish-by-parish basis as to whether or not they want sports betting in their area.
• Sports betting in Louisiana would be restricted to retail gaming facilities and mobile betting would only be allowed on the gaming floor of approved establishments.
• If the measure is approved by voters, Louisiana sportsbooks could potentially launch as early as January 2020.

BATON ROUGE, La. – Louisiana residents who are hoping to have a say in potential sports betting legislation are one step closer to doing so after the State Senate approved LA SB 153 earlier this week by a 24-15 vote.

The bill, sponsored by Louisiana Senator Danny Martiny, would allow voters on a parish-by-parish basis to decide if they want sports betting to be held within their area.

The gambling activity itself would be restricted to the state’s 16 racetracks and four casinos and any licensed mobile wagering platforms that these establishments hope to provide will be restricted to the establishment’s gaming area.

The measure would be very similar to how Mississippi sports betting is operated, which Senator Martiny hopes to compete with.

“The Mississippi gulf coast casinos are doing everything they can to lure Louisiana people over to the Biloxi area and one of the amenities that they offer is sports betting,” said Martiny in an interview with FOX 8.

The bill will now head to the Louisiana State House for a vote. The legislative session will last until June 6 which gives members of that chamber time to properly hear the bill and make any amendments if they deem necessary.

What Else Is In The Current Louisiana Sports Betting Proposal?

When it comes to who can bet on sports and what sports they can bet on, the current bill restricts bettors to be 21 years old or older and prohibits them from betting on high school, video game, and electronic sporting events.

Betting on professional sports teams or collegiate sports teams that are based in Louisiana and beyond would be totally acceptable.

The financial components of the bill have yet to be officially determined because the exact taxing structure has yet to be finalized. Martiny has previously supported a tax rate of 12% to be assessed on legal sports betting revenue that approved locations keep.

When trying to figure out the number of funds that will actually be given to the state, the Louisiana Legislative Fiscal Office tried to use revenue figures from Mississippi to compare.

According to their findings, “sports wagering in Mississippi has been reported for 7 months, generating $2.5 million of tax revenue from a 12% tax rate. This might annualize to some $5 million of tax revenue in subsequent years.”

In order to help the measure pass, Martiny has also claimed that any amount the state collects will be primarily used for early childhood development programs.

“For years now, we have been in the trenches looking for funds, begging for funds, hands and knees. We don’t have enough funds for our earliest learners. This is just another opportunity,” said Paula Polito, chair of Louisiana’s Early Childhood Care and Education Advisory Council.

By tying this proposed legislation to this cause, Louisiana Governor John Bel Edwards said: “It is a conversation I am willing to have.”

However, before the governor can have an official say, the bill will have to pass through the House in the coming weeks.

News tags: LA SB 153 | Louisiana | sports betting