Louisiana governor signs first of two sports betting bills
Governor Jon Bel Edwards signs tax bill into law as amendments to regulatory bill await Senate approval
Louisiana is one step closer to legalizing sports betting after Governor John Bel Edwards on June 7 signed the first of two bills that would pave the way to launching online and retail sportsbooks in the state.
Edwards put his signature on HB 697, a bill that establishes tax rates and fee structures for sports betting. The other required bill, SB 247, was passed by the Louisiana House of Representatives a few days earlier by a vote of 78-15. The Senate will need to approve the House amendments to the regulatory bill before it can head to Edwards’ desk.
Once both bills are signed into law, Louisiana will be able to move forward with launching sports betting in 55 of the state’s 64 parishes that approved it in November 2020.
The framework for sports betting in Louisiana will be centered around 20 licenses distributed to each of the state’s 15 riverboat casinos, four racinos, and one land-based casino in New Orleans.
The Louisiana Gaming Control Board will become the regulatory body of sports betting in the state.
Taxes would be levied at a 10% rate on retail sports betting, and 15% for online betting, with operators being required to pay a $250,000 application fee and a $500,000 license fee that would cover five years of operation.
Registration would be permitted either in-person or online, which would help streamline the sign-up process for any prospective customers who don’t live near a gaming facility.
Lawmakers have expressed hope that sports betting could be up and running as soon as the start of the NFL season if everything continues to go according to plan.