Fantasy sports betting regulation to be approved

Fantasy sports betting could be approved.
Fantasy sports betting could be approved.

Louisiana is on track to legalise fantasy sports betting after green light from the Senate.

US.- Senators for Louisiana have voted to legalise fantasy sports betting, in which players create imaginary teams of real-life sports players.

The Senate voted 31-3 in favour of creating regulatory framework to approve to the activity. The proposal still needs approval from the House before it can reach the governor’s desk.

In fantasy sports, people create imaginary teams of real-life sports players and score points based on the performance of those player in real games.

Websites such as DraftKings and FanDuel charge an entry fee and offer payouts to winners.

Operators of fantasy sports contests would need to be licensed by the Louisiana Gaming Control Board. Participants in competitions for cash prizes would have to be at least 21 years old, and fantast teams would not be allowed to include participants in high school or youth sports events.

The activity will not be able to start until the required rules and tax rates are set. In the November 2018 election, voters in three-quarters of Louisiana parishes agreed on the legalisation of fantasy sports betting in their parishes. However, the pandemic scenario could push legislation forward.

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